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Technology / AI and automation

PRIME TO CUT ANOTHER 1,200

Prime Computer Inc has now released the bad news it warned of late last year (CI No 1,078), saying that it intends to reduce its workforce by another 1,200 people or about 10%. The move, which relates to further consolidation of Computervision Corp with Prime’s own operations, will cost the company between $40m and $45m pre-tax against its fourth quarter figures, but should save it $50m in annual operational costs. Separately, the injunction against MAI Basic Four Inc proceeding with its $20 a share tender offer for Prime was extended pending the furnishing by the company of further information pertaining to its proposed financing; MAI promised an answer by the end of this week, and extended its offer to January 11.

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CBR Staff Writer

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