Taken from
CNNfn:
NEW YORK (CNNfn) - Gateway Inc. said Tuesday said it will cut thousands of jobs and post a loss in the third quarter as it struggles through a protracted downturn in demand and falling prices for personal computers.
The San Diego-based PC maker said it will cut its U.S. work force by 15 percent and its worldwide work force by 25 percent. Gateway also said it may exit the European market altogether.
If Gateway decides to stay in the European market, cuts would reach 3,500. But, if they decide to pull their business out, the cuts may go as high as 4,600. Still, Gateway expects a loss for the quarter, which has sparked restructuring plans. To read more, click
here.
