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Equipment Distributor Merisel to Reduce Work Force by a Third

September 01, 2000|Bloomberg News

Merisel Inc., an El Segundo-based distributor of computer equipment, said it's firing about 700 people, or a third of its work force, and closing warehouses to cut costs and return to profitability. In the U.S., Merisel is eliminating about 500 jobs as it closes warehouses in four states on the East Coast and cuts staff at its headquarters in El Segundo and an office in Cary, N.C. Merisel will keep three main warehouses in California, Illinois and Virginia. The company's Canadian unit will cut about 200 jobs throughout its operations. Merisel has posted losses for the last five quarters. Last December, the company cut 400 jobs. Merisel shares rose 16 cents to close at $1.09 on Nasdaq. The news was released after the close of regular U.S. trading.

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