P.M. BRIEFING : Wang Reported Set to Idle 2,500
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LOWELL, Mass. — Wang Laboratories Inc., which recently ousted the founder’s son as the company’s president, plans to lay off another 2,500 employees, or 10% of the work force, a published report said today.
The Boston Globe, citing a source close to the computer manufacturer, said the cuts, which Wang plans to announce next week, are part of a restructuring under new President Richard W. Miller.
A spokesman for Wang, which had losses of nearly $425 million in the fiscal year that ended June 30, declined to confirm or deny the reported layoffs.
Miller came to Wang in August, replacing former President Frederick Wang, the son of company founder and Chairman An Wang.
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