WANG TO REDUCE WORKFORCE
WANG TO REDUCE WORKFORCE LOWELL, Mass., May 27 /PRNewswire/ -- Wang Laboratories, Inc.
(AMEX: WAN) announced today that as the company implements its new development and marketing strategy and its ongoing programs to control its cost structure and lower expenses, it will reduce its workforce by more than 1,000 employees worldwide over the next several months. At April 30, the company employed a total of 13,532 in its continuing operations. The cost of this adjustment, while not yet determined, will be reflected as part of operating results for the company's fourth fiscal quarter ending June 30.
Richard W. Miller, chairman and chief executive officer, said, "The steps announced today are necessary to move our company forward in the implementation of our OFFICE 2000 strategy. This strategy, which is based on providing leading office and imaging technologies on industry standard platforms, is receiving encouraging customer responses. During this calendar year, we will introduce new imaging, document management, electronic mail, database, and VS customer solutions for the Wang RISC Series family of UNIX products sourced from IBM, and more than 30 new VS products. "As our new development and marketing strategy advances, we must continue to resize and reshape our business in light of evolving industry and economic conditions. Current conditions are difficult and uncertain, and we are continuing to experience intense pressure on revenues and margins. As our strategy moves forward and business conditions evolve further, the company will continue to examine its workforce requirements." -0- 5/27/92 /CONTACT: Frank Ryan, 508-967-7038, or Ed Pignone, 508-967-4912, both of Wang/ (WAN) CO: Wang Laboratories, Inc. ST: Massachusetts IN: CPR SU:
PS -- NY077 -- 4421 05/27/92 16:43 EDT
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|Date:||May 27, 1992|
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