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July 28, 1994

CONVEX CUTS STAFF 7% IN COMPREHENSIVE RESTRUCTURING

By CBR Staff Writer

Richardson, Texas-based Convex Computer Corp is cutting its workforce by 7% and will write down assets mostly related to its C3 minisupercomputer line as part of a restructuring, the company announced as it revealed second quarter loss of $31.8m on sales down 22.3% at $35m (page seven). The company says its new C4 line of machines has overtaken the C3 because it has proved to be better value than the C3. Convex also said it is on track to restoring profitability with the introduction of the C4600 and the new Exemplar line of parallel machines.The restructuring is designed to cut $12m from annual operating costs and focus the company on its new products rather than the past.

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