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November 14, 1994


By CBR Staff Writer

Don’t these guys understand that the company is on the rack, that it might very well not be around much longer in any form unless it savages its costs? A ragged band of 14 employees from five European countries flew to the Digital Equipment Corp annual meeting in Boston last week to demand a meeting with senior executives to discuss impending lay-offs: president Robert Palmer confidently laid out to the meeting the company’s plans to return to profitability, saying job cuts and divestments, a shift in management style and other measures will cut annualised expenses by $1,000m in fiscal 1995 and by $1,800m in fiscal 1996, helping the firm return to profitability; the ongoing restructuring, financed by its $1,200m charge in July against fourth quarter earnings, is focused on its core computer systems division, where many of the remaining problems lie, he said.

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