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Apple Computer to Announce Layoffs, Restructuring Plan March 14.(Originated from San Jose Mercury News, Calif.)
Knight Ridder/Tribune Business News, March, 1997 by Langberg, Mike
CUPERTINO, Calif.--Mar. 5--Apple Computer Inc. will announce layoffs and a massive restructuring plan March 14, Chairman Gilbert F. Amelio told employees in an electronic message distributed Tuesday.
In January, when the struggling Cupertino company reported an unexpectedly large loss of $120 million for the last three months of 1996, Amelio said Apple would need to exit certain parts of its business and cut an unspecified number of jobs.
He initially said the details would be announced in late February, then later shifted the announcement to sometime in March.
The process began last month with a corporate reorganization and shake-up of top-level management.
"They (the newly appointed top managers) are now making firm...
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