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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: jhild who wrote (16463)	6/26/1998 12:20:00 PM
From: Scrapps	Respond to of 22053

[CHEAP CHIPS EXCUSE]Rockwell to cut staff by 10 percent - WSJ NEW YORK, June 26 (Reuters) - Rockwell International Corp. is expected to announce a 10 percent cut in its 48,000-strong workforce, the electronic edition of the Wall Street Journal reported Friday. The Journal said that according to people close to the company, the personnel reduction is expected initially to be set as a company-wide goal, with details to emerge in the coming weeks. The Journal said Rockwell was confronting slow growth in its industrial automation business, caused in part by Asia's economic turmoil, and changing technology in its semiconductor operations. Analysts are projecting as little as three percent growth in the company's automation revenue in the current fiscal year, down sharply from a 7.8 percent increase in fiscal 1997, the Journal wrote. The Journal said a company spokesperson declined to comment. Rockwell, the world's largest maker of computer-modem chips, has cautioned that pricing pressures and diminished demand for its new V.90 modem chips have erased expectations that the market might have recovered by now, the Journal wrote. ((New York Newsdesk 212-859-1700; Fax 212-859-1717)) --------------------------------------------------------------- x2s me? I told um so!...You told um so!...WE TOLD UM SO!!