Gateway axes 2,500 jobs, closes US stores
Print story40 per cent of staff overboard
Posted in Applications, 2nd April 2004 04:59 GMT
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Gateway is to close all 188 of its retail showcases in the United States - many stores within stores - with the loss of 2,500 jobs, or nearly 40 per cent of the work force.
As recently as four years ago, Gateway employed over 20,000 staff; after the stores close on 9 April it will be down to 4,000. Three weeks ago the company completed its takeover over eMachines, although "reverse takeover" is more appropriate. Gateway's new CEO is Wayne Inouye, former eMachines boss, and the company announced it was relocating to Orange County, former eMachines base.
In its most recent quarterly earnings statement, Gateway reported a loss of $114m on turnover of $883m. News of further restructuring is expected on 29 April, when Gateway issues its next earnings statement for the quarter that ended on Wednesday. ®
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