The buildup to a downfall at Digital
Article Abstract:
Kenneth Olsen, founder and president of DEC, officially resigned from DEC after several months of heated confrontations with the firm's board members. Olsen may have been forced to resign or he may have chosen to resign on his own accord. Before his resignation, Olsen ordered the company's financial managers to create a second budget that would compete against the company's current budget. This second budget emphasized generating new sources of revenue and de-emphasized cost cuts. The board had voiced a need for further cuts in operating expenses. Olsen's restructuring plans had also upset the balance and harmony at DEC because the hierarchy and prioritizing of personnel and projects became muddled. Massive work force reductions of as many as 50,000 workers are expected and DEC will post losses of nearly $2 billion for 4th qtr ending Jun 30.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1992
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Mentor Graphics will cut 100-200 jobs and freeze pay
Article Abstract:
Mentor Graphics Corp, after posting a loss of $5.66 million for the first half of 1992, announces it will cut 100 to 200 jobs and freeze its employees' wages through 1993. A 3rd qtr 1992 charge of $15- to $25 million is also expected because of the company's restructuring plan. The electronic systems design manufacturer has about 2,400 employees, 100 of which are expected to leave by 1993 through attrition. Company officials say they are targeting a $20 million decrease in annual expenses with the restructuring, while focusing on software sales. Mentor Graphics is marketing top-down design systems, costing about $50,000 each, to electronics engineers who design components.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1992
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I.B.M. suffers a slipped disk: sponsorship
Article Abstract:
Amidst the backdrop of severe financial troubles which will cost 25,000 employees to lose their jobs, IBM sponsors Fiesta Bowl for an estimated $1.5 million and the Ryder Cup golf tournament for another $1 million. IBM workers who are about to be laid off expressed shock at the move. While it may be true that in tough times companies still have to advertise, there is a difference between advertising and paying big money to be a sponsor. IBM's Fiesta Bowl sponsorship renamed the competition for its OS/2 operating system but there is little evidence that the move spurred software sales. IBM seems to nurture its old reputation of a big spender.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1993
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