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Info comes to light after form filed with SEC

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Information handed to the Securities and Equities Commission (SEC) on the 13 November shows that another 2,700 staff will lose their jobs following the merger of Digital and Compaq. Compaq had earlier said that 17,000 jobs would be lost. Information passed to The Register by subscription-based US newsletter Shannon Knows DEC reveals that the additional job cuts will come in Europe and North America. But Form 10Q, which Compaq filed with the SEC, said: "Accrued restructuring costs recorded in June 1998 included $1.1 billion ($999 million for Digital and $132 million for Compaq) representing the cost of involuntary employee separation benefits related to approximately 19,700 employees worldwide (approximately 14,700 Digital employees and 5,000 Compaq employees). "Employee separations will affect the majority of business functions, job classes and geographies, with a majority of the reductions occurring in North America and Europe." No-one from Compaq was available to comment at press time, it apparently being Christmas at the company already. ®

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