Compaq Message Board - Msg: 12290226

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Technology Stocks : Compaq

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To: Captain Jack who wrote (73821)	12/15/1999 4:43:00 AM
From: rupert1	Read Replies (1) of 97611

Wednesday December 15 2:14 AM ET Inacom Plans To Cut 1,000 Jobs OMAHA, Neb. (AP) - Computer reseller Inacom Corp (NYSE:ICO - news). will cut at least 1,000 jobs next year in an effort to return the firm to profitability. The company is moving more of its business from computer sales to higher-margin computer services. Inacom's Vice President for Marketing Geri Michelic said many of the cuts are targeting mid- to upper-level managers. Marketing, finance and human resources employees also will be affected. Some cuts will be in Omaha but most of the reductions will be in other locations across the country. Few, if any, technicians are expected to lose their jobs. Inacom blamed concerns over the year 2000 computer bug for a slowdown in sales and has warned it expects to report a loss for the fourth quarter of 50 to 70 cents per share. The job cuts, eliminating roughly 10 percent of the company's work force, are expected to save Inacom $100 million annually. Inacom had 1998 earnings of $42.6 million on sales of $4.3 billion.

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