TECHNOLOGY - March 17, 1993
From Times Staff and Wire Reports
Wang Labs Continues to Downsize: Wang Laboratories Inc., once a major computer company, filed a reorganization plan in Boston federal bankruptcy court that called for cutting an additional 3,000 employees. Under the plan, Wang’s creditors would take ownership of the company through an issue of new stock. The family of the Lowell, Mass.-based company’s late founder, An Wang, would lose its stake. Wang is expected to emerge from bankruptcy within about 3 1/2 months. It will virtually abandon manufacturing and focus instead on software and services.
