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July 4, 1993

…AND BULL WILL ANNOUNCE BIG NEW ROUND OF CUTS IN FRANCE TODAY

By CBR Staff Writer

Even IBM Corp’s problems are not quite as severe yet as those of Compagnie des Machines Bull SA, which would have long ago collapsed into bankruptcy were it not for the majesty of the French state standing behind it as guarantor of last resort, and today, the company will put a plan to cut more jobs before its works council, Bull’s personnel director told Les Echos. He declined to give a figure for the number of job cuts the company will be seeking, but said They will be of a very major order. He also said first half results were not good, declining to give more details. Bull employed 14,720 people in France at the end of last year. Over the last three years it has shed 26% to 27% of its workforce worldwide. In France itself it has laid off 12% of its staff over that period.

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