TECHNOLOGY - Oct. 23, 1992
From Times Staff and Wire Reports
Digital Cuts Severance Pay, Prices: Digital Equipment Corp. confirmed that it has trimmed severance pay for idled employees, a move designed to save money as the struggling computer maker lays off up to 25,000 workers the next two years. In the quarter ended Sept. 26, the Maynard, Mass., company cut 5,300 jobs, bringing its worldwide work force to 108,500. The firm posted a $260.5-million loss for that quarter. In a separate move, the firm announced that it will trim prices 5% to 47% on low-end networking systems and on communication, memory, storage, video terminal and printer products. Digital also eliminated volume discounts for large purchases by major customers.
