Stratus Computer Inc is to cut 400 jobs, or approximately 15% of its workforce, after sales were hit by the weak Asian market. The company posted its anticipated $10m loss on revenues for the quarter of $134.3m, down from $167.6m in the same period last year. The loss was caused by a $10m charge for excess inventory. Stratus now says it will take a further $20m restructuring charge in its third quarter. It doesn’t see Asian sales recovering in the near term, and even US business was weaker than it anticipated during the quarter. Europe was its strongest market.
