Adaptec Announces Storage Systems Division Reduction in Force.MILPITAS, Calif.--(BUSINESS WIRE)--Aug. 14, 1998--Adaptec Inc. today announced a workforce reduction within the Storage Systems Division, a move designed to reduce Adaptec's operating expenses and focus the company on its core business strengths. Approximately 100 employees, or 4% of the worldwide workforce, will be laid off as a result of this decision. Adaptec's interim CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Larry Boucher said, "This move reflects the Board's decision to develop a consistent strategy that focuses the company on its core I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output businesses. As a result, we plan to sustain and strengthen our SCSI SCSI in full Small Computer System Interface Once common standard for connecting peripheral devices (disks, modems, printers, etc.) to small and medium-sized computers. SCSI has given way to faster standards, such as Firewire and USB. and RAID hardware and software solutions." The company is evaluating, as a result of the action, a one-time adjustment charge during the second fiscal quarter of 1999. About Adaptec Adaptec provides bandwidth management technologies for organizations building the global information infrastructure. Its high performance I/O, connectivity, and network products are incorporated into the systems and productsof major computer and peripheral manufacturers. Founded in 1981 and headquartered in Milpitas, Adaptec (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADPT ADPT Automated Data Processing/Telecommunications ADPT Adaptec Corporation (stock symbol) ADPT Adaptive Prediction ADPT Auger Depth Profiling Technique ADPT Automated Data Processing Telecommunications ADPT Adapter ) employs people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is http://www.adaptec.com.
CONTACT: Adaptec, Milpitas
Adam Trunkey, 408/945-8600
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion