Storage Technology will cut another 500 jobs.

The Louisville, Colo.-based computer software company said assembly-line workers and employees in finance and management will be affected. Most of the layoffs will be in Colorado. Since it filed for Chapter 11 protection in October, 1984, Storage has reduced its work force by 5,000. Before the latest round of layoffs, the company had about 3,500 employees in Boulder County, Colo. The company said the purpose of the layoffs will be to eliminate “functional redundancies” as the company realigns its corporate structure.