Compaq posts loss, cuts jobs

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Compaq posts loss, cuts jobs

Up to 8,000 workers will get the axe in the wake of Compaq’s bloodiest financial report in years.

The world’s largest maker of PCs posted a quarterly net loss of $184 million, despite a 17 percent gain in Q2 revenues, up to $9.4 billion.

To streamline operations, Compaq will take a third quarter charge of up to $900 million, and it will fire as many as 8,000 employees.

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