Staff cutbacks seen at Prime Computer Inc
Article Abstract:
Prime Computer Inc will cut its work force by 800 employees, or 9.2 percent, and will require other workers to take time off. According to John J. Shields, Prime's president and CEO, much of the company's staff reduction will be accomplished by attrition. Shields would not disclose the company's 1st qtr results, which are to be announced on Wed, May 15, 1991, but he says the results are adequate and there will be no problem meeting Prime's obligations. Prime is indebted because of a leveraged buyout by DR Holdings Inc. American Exchange Co's Shearson Lehman Brothers Inc subsidiary holds $500 million of DR Holdings and Prime debt, but a spokesman for Shearson says Prime's payments are current and there is no problem with the company's credit. Prime, which makes midrange computer systems, has encountered problems because of the impact of technological change on its products and because of the recent recession.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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Wang to dismiss 500 more employees as slump seems to deepen firm's woes
Article Abstract:
Wang Laboratories Inc will layoff an additional 500 workers at facilities around the world in continuing cost cutting measures. The computer maker currently employs 19,000 workers, down from a total of 31,500 two years ago. Wang has been facing economic trouble for several years as it attempts to revamp its product line. Wang has long relied on proprietary minicomputers and word processing systems for revenue; however, customers have dropped the company's product line in favor of industry-standard UNIX systems. In response Wang is attempting to refocus its products. One such step is the expected announcement by Wang of an agreement to license the Mips Computer Systems' line of UNIX-based computer systems.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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