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Technology Stocks : Adaptec (ADPT)

ADPT 15.76

-1.3%

Jan 9 9:30 AM EST

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To: Jim Switz who wrote (2968)	7/18/1998 12:19:00 PM
From: Starowl	Read Replies (2) of 5944

Jim: Here's some more info on the Singapore facility and layoffs there. Found the article on the Singapore Times web page. The staff at the Adaptec factory there is 1,200 (prior to the 350 layoffs). Most of the layoffs are from production plus some technicians and manufacturing support staff. R&D staff was not touched. The new facility being built in the Chai Chee district is planned for startup operations in December. The article cites statistics of last November (unsourced) that the plant (presumably, but this isn't crystal clear) was making 500,000 printed circuit board assemblies and assembling 3 million chips a month. The plant's human resources chief is quoted as saying: "Our new facility in Chai Chee reflects Adaptec's long-term commitment to Singapore, and the current workforce reduction is really a short-term response to the current business situation." asia1.com.sg Starowl

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