Packard Bell NEC to cut US workforce by 20 per cent
Cost-cutting measure follows poor year
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Packard Bell NEC has confirmed its intention to axe between 750 and 1000 jobs by the end of the year. However, the company said its European operation will unaffected -- the cuts will be made solely in the US, accounting for up to 20 per cent of the workforce. The decision was made as part of a major effort to cut costs, said a Packard Bell NEC spokesman. "This is a very tough thing to do," he said. "But as a company, it's the right thing to do." The cuts come after a difficult 18 months for Packard Bell, a period that has seen the resignation of founder Beny Alagem, NEC taking control of the company and merging it with its own operations, and a collapse in US marketshare from 20.4 per cent in August 1997 to 9.1 per cent for the same month this year. The news also follows the company's decision to pay $3.5 million to settle a lawsuit filed against it by the US government (see Packard Bell NEC settles whistleblower suit). ® Click for more stories
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