Compaq Computer has laid-off 450 employees as part of its ongoing bid to slash its worldwide workforce by 7,000, a company spokesman confirmed today.
The latest job cuts occurred yesterday in the PC vendor's Commercial PC Group, Compaq spokesman Alan Hodel said.
"It's unfortunate anytime somebody's job is affected, but it's necessary for the company to position itself for future growth," Hodel said.
In July of last year, Compaq Chief Executive Officer and President Michael Capellas announced that the firm would lay off between 6,000 and 8,000 people from a total of almost 70,000 employees, after the company posted a loss of $184 million, or 10 cents a share, for its second fiscal quarter.
Hodel said Capellas' job reduction mandate will be achieved by Compaq's mid-year target date. He declined to comment on how many positions have been cut overall, but said more details would be forthcoming at Compaq's conference call for its first fiscal quarter earnings report Tuesday. The company employed 67,000 people at the beginning of this year, according to Hodel.