TECHNOLOGY - April 12, 1996
Times Staff and Wire Reports
Prodigy Fires 17% of Work Force: Prodigy Services Co. fired about 115 members of its 680-person work force in an effort to make the business more attractive to potential investors in a management-led buyout, analysts said. Prodigy management is in talks with co-owners International Business Machines Corp. and Sears, Roebuck & Co. about buying the company with the help of outside investors. Wasserstein Perella Securities in New York is putting together the transaction. Prodigy executives declined to comment on the talks. The No. 3 online services company announced the job cuts in a memo to employees. Positions are being eliminated in all departments, a Prodigy spokesman said.
