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Planar Systems to Restructure

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BEAVERTON, Ore., Oct. 12 -- Planar Systems Inc. is restructuring to help reduce operating expenses to a level consistent with current revenue expectations. The planned restructuring calls for Planar's sale of Planar Flat Candle, Inc., a wholly owned subsidiary that manufactures backlights for liquid crystal displays. Planar has also taken steps to reduce worldwide headcount by 18 positions, and has instituted a hiring freeze on all positions presently open. The company expects the restructuring actions to lead to annual cost savings of approximately $2.5 million. Planar further announced...Read full article

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    Published: October 1999
    ConsumerdefenseNews & Features

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