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CalComp to Lay Off 235, Sell Headquarters

November 19, 1996|Times Staff and Wire Reports

CalComp Technology Inc., a maker of high-performance computer equipment, said it will lay off 235 employees and sell its Anaheim headquarters as part of a consolidation following the company's acquisition of Topaz Technologies Inc. About 75% of the job cuts will take place in Orange County, where CalComp employs about 400 people, Chief Executive Gary Long said, adding that the company, which has 1,100 employees worldwide, will remain based in Orange County. Long said the company is eliminating manufacturing and assembly positions, as well as some engineering positions. The layoffs, which will result in a one-time charge of $7 million, partly reflect the transfer of work to Sunnyvale-based Topaz, which CalComp has acquired for about $4.3 million, including $750,000 in cash and 1.5 million shares of CalComp stock. CalComp shares rose 6 cents to $2.375 on Nasdaq.

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