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Spotlight: Komag to Cut Work Force by 10%

June 03, 1998

Komag Inc., a San Jose maker of thin-film computer disks for data storage, said it will cut its work force of 4,800 by 10% and take a second-quarter charge of as much as $185 million. It warned that it doesn't expect to turn a profit until the first half of 1999. The company is forecasting sales in the second quarter ending June 28 to be $75 million to $85 million, down from an earlier forecast of $100 million to $125 million. Trading in its stock was halted on Nasdaq after the announcement.

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