Compaq to chop 1,250 full-time jobs

Article Abstract:

Compaq Computer Corp., the world's largest computer maker, announced it will slash 1,250 full-time jobs in Canada by the end of 1998 as part of a far-reaching corporate restructuring. The cuts will affect 800 full-time and 300 part-time employees at a Digital Equipment Corp. manufacturing facility in Kanata, Ontario, and up to 450 administrative, marketing and sales employees at Compaq offices in Canada. In other parts of the world, Compaq will close about half of its factories in South America, Asia, North America and Europe. In all, the company expects to slahs 17,000 of 84,000 full-time positions over the next 12 months.

Comment:

Will slash 1,250 full-time jobs in Canada by the end of 1998

Labor force information, Compaq Computer Corp., Article

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Compaq's woes reflect slumping computer hardware sector

Article Abstract:

Shares of computer makers continue to suffer as a result of serious problems in the computer hardware sector: declining prices and shrinking profits. Computer makers are being squeezed by consumers who want greater features but are not willing to pay premium prices. The trend has spilled down to other areas such graphics equipment and microprocessors, where margins are being squeezed due to intense price wars.

Market information - general

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Jobs officially takes top job at Apple

Article Abstract:

Cupertino, Calif.-based Apple Computer Inc. has announced that Steve Jobs will become the computer maker's chief executive officer. Apple, which held its annual MacWorld trade show in San Francisco, California, had employed Mr. Jobs as an interim CEO since 1997.

United States, Electronic computers, Executive changes & profiles, Officials and employees, Computer industry, Appointments, resignations and dismissals, Apple Computer Inc., AAPL

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