Even in the sexy world of low-cost systems for high volume transaction processing, the times are hard and getting harder, and sohigh-flyer Sequent Computer Systems Inc, of Beaverton, Oregon is having to take measures to reduce its costs in the face of itsdwindling business prospects in the immediate future. It has instituted a one-time, company-wide pay reduction programme starting Monday. Under dhe Lenten fast, employees are being asked to take a pay cut equivalent to one week’s salary, and reckons that it will be able thereby to save $1.5m to $2m. As a consolation prize, the firm is to issue employees with share options to be awarded at fair market value on the date the programme takes effect, in an effort to help offset the impact of the salary cuts on employees; Sequent blames weak OEM sales and says that the cut will apply worldwide.
