John A. Blanchard, chairman and chief executive of Deluxe Corp., told analysts in New York last week that his company's restructuring is on schedule and yielding the expected results.

"We set out to lower our cost structure by reducing duplication, streamlining operations and decision-making, and eliminating money-losing operations, and we're on target to deliver the indicated $150 million in annual savings by 1998," said Mr. Blanchard.

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