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Technology Stocks : American Power Conversion -- Ignore unavailable to you. Want to Upgrade?

To: Ron Dior who wrote (2475)	7/10/2001 10:47:17 AM
From: JakeStraw	Read Replies (1) \| Respond to of 2574

American Power Conversion Announces Plans to Reduce Worldwide Manufacturing Headcount biz.yahoo.com WEST KINGSTON, R.I., July 10 /PRNewswire/ -- American Power Conversion Corporation (Nasdaq: APCC) today announced a continuation of its ongoing efforts to reduce expenses, improve productivity and drive down cost of goods sold with plans to eliminate up to approximately 10 percent of its current global workforce or approximately 700 jobs. These reductions will primarily impact manufacturing and operations personnel. Through a combination of job actions and attrition, including those announced today, the Company has taken steps to reduce its overall headcount by approximately 15 percent from its year-end 2000 headcount of 7,350 employees. ``The decisions we have made this year, particularly those with respect to headcount reductions, have been difficult,'' said Rodger B. Dowdell, Jr., APC's president and CEO. ``But this is a process we committed to in February and are continuing to follow through on. APC is faced with a challenging demand environment similar to what the vast majority of technology companies are continually struggling with. The ongoing trade-offs are frequently tough to make, but essential for the long-term success and competitive viability of the company.'' In conjunction with this action, APC is reducing manufacturing and operations headcount in domestic and international locations, including the discontinuation of manufacturing in Denmark and the proposed discontinuation of manufacturing in the UK. These reductions are scheduled to occur over the course of the next several quarters. The Company plans to discuss these actions in more detail in the context of its upcoming second quarter earnings press release and conference call currently scheduled for Thursday, July 26, 2001.