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To: Amir Shalit who wrote (3443)8/15/1998 1:50:00 PM
From: Arthur  Read Replies (1) | Respond to of 5944
 
San Jose Mercury News

Adaptec to lay off 100 in storage-systems cuts

Adaptec Inc. said it will cut 100 jobs, mainly engineers and marketing employees in its storage systems facility at its headquarters in Milpitas, as it moves to focus on its core businesses of computer controller chips, cards and other devices and exit the storage systems business at a time of falling revenue and income. The layoffs total about 4 percent of the total work force and are the third round this year. In April, the company laid off about 200 staffers worldwide and in July, it announced 350 job cuts at its Singapore manufacturing plant.

mercurycenter.com

What -- me worry?

Despite 'down' signs in the economy, area residents still confident

mercurycenter.com



To: Amir Shalit who wrote (3443)8/15/1998 2:52:00 PM
From: Jim Switz  Respond to of 5944
 
Amir, surprised about the $150k (burdened) for engineers, was guessing closer to $100k, but I was assuming that a significant fraction of USA layoffs were non-engineering, at much lower rates. So I used $50k as an average. Yours are the kind of more-accurate datapoints we need to assess the savings; if I was too conservative maybe we're looking at mid-20-cents/share or more to the bottom line.