LOWELL, Mass. — Wang Laboratories, projecting an operating loss in its fiscal fourth quarter, said Wednesday that it will immediately lay off 1,600 employees, or 5% of its work force.
The computer maker said it also canceled salary increases for six months.
"The layoffs affect employees across the board: manufacturing, administration, clerical and professional--everyone," Wang spokeswoman Myra Barradas said. She added that 1,000 of the layoffs will be in Massachusetts.
"The company has tried to find as many ways as possible to avoid such a measure, but conditions in the industry haven't turned around as we expected them to," she said.
After Wang's announcement, the company's class B stock fell $1.125 a share to $15.50 on the American Stock Exchange, where it was the most active issue.