WANG TO CUT PAYROLL 35%

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, March 17, 1993                   TAG: 9303170176
SECTION: BUSINESS                    PAGE: B6   EDITION: METRO 
SOURCE: Knight-Ridder/Tribune
DATELINE: NEW YORK                                LENGTH: Short
WANG TO CUT PAYROLL 35%
Wang Laboratories Inc. on Tuesday filed a joint plan of reorganization under Chapter 11 with its creditors which, among other things, calls for cutting its staff 35 percent, to 6,000 from 9,300, and handing over control of the company to creditors.
Wang said the plan, submitted Tuesday to the U.S. Bankruptcy Court in Boston, would enable it to emerge from bankruptcy and return to profitability by fiscal 1994.
The company set no timeframe for cutting the jobs, noting only that about 50 percent of the reductions would occur in the United States.
The company also said it expected to end the year with revenues of about $1.25 billion to $1.3 billion.
When Wang filed for Chapter 11 in August, it projected it would come out of Chapter 11 with slightly higher revenues of $1.3 billion to $1.4 billion. It also estimated that job cuts would be less severe, with total employees being cut to 8,000 instead of the revised 6,000.
Under the plan, all the common stock in the reorganized Wang will be issued to unsecured creditors. Creditors holding priority claims, such as pre-petition wage claims by employees, will be paid in full or as agreed upon, or remain outstanding, Wang said.

by Archana Subramaniam by CNB