TECHNOLOGY & TELECOMMUNICATIONS
From Times Staff and Wire Reports
Advanced Logic Research to Cut Staff and Pay: The Irvine-based computer company, fearing its first-ever quarterly loss, is laying off 100 employees and cutting top employee’s pay by 5% to 30%. “This is something we should do because of the competition,” said Gene Lu, chief executive, who will take a 30% cut on his $400,000 annual salary. The layoffs, which have already been implemented at the company’s headquarters in Irvine, will hit about 15% of ALR’s worldwide work force of 650. Employees will get one week’s severance for each year of service. About 48 of the 450 jobs in Orange County were cut, the company said.
