Word: pared
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...three decades, the Massachusetts-based manufacturer enjoyed uninterrupted growth as its potent line of VAX midrange computers muscled sales away from IBM by offering comparable computing power at cut-rate prices. But DEC has proved to be vulnerable after all. Caught in an industry-wide slowdown, the company will pare its work force by 9,000, or about 7%, by year's end. Last week DEC posted a quarterly loss of $257 million, the first red ink in its 32-year history and a stunning blow for founder and chairman Kenneth Olsen. Ironically, DEC is now threatened by a shift...
...female schools that remain, survival will require tough choices. To help brighten its bottom line, Bryn Mawr decided three years ago to phase out several graduate departments, pare faculty and staff, and gradually increase its undergraduate enrollment from 1,000 to 1,200. Russell Sage, in Troy, N.Y., has repositioned itself, aggressively courting "resumers" -- women over 25 -- who make up 22% of its undergraduates...
...bankrupt U.S. operations of Australia-based Hooker Corp., which owns the B. Altman and Bonwit Teller department-store chains. Such troubled but solvent corporations as Wang Laboratories, the Lowell, Mass., computer maker that laid off more than 1,500 workers last year, have hired "workout" advisers to help pare down their debt. By pursuing a workout instead of bankruptcy, management can maintain control of the company and generally reorganize faster. "There's more room to maneuver outside of court," says Richard Feintuch, a partner in Wachtell, Lipton, a leading Wall Street law firm...
Auditions for the cabaret were held at the beginning of the semester, and Cohen said they attracted a tremendous amount of talent--something the producers were pleased to see, but were forced to pare down...
...year to 103 1/8 last week. The shares of Stone Container, a paper manufacturer that borrowed $2.2 billion to buy a Canadian competitor last March, have declined from 25 1/8 to 21 1/2 this year. Wall Street's message is clear. During the '90s, companies are likely to pare down their debts and return to an old-fashioned way of raising money: by issuing stock...