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CONTROL DATA TO CUT PAYROLL AGAIN

Control Data Corp wants to cut its payroll, but rather than making a new round of lay-offs, it plans to reduce pay by ordering employees to take five days’ unpaid leave in the current quarter – equivalent to a 2% pay cut: executives will be hit harder, taking an additional cut of 4.5% in the first half, while merit rises have been delayed for three months, and CDC’s employee savings plan is suspended for six months.

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