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Compaq expects loss, announces restructuring

Published on .

Houston--Compaq Computer Corp., Houston, reported Thursday it expects a loss of 15 cents a share, which the company blamed in part on the continued price free fall in the personal computer industry. ``The operational issues that affected Compaq in the first quarter continued to influence our business this quarter,'' said Benjamin Rosen, chairman-acting CEO, in a statement. Compaq also announced a major restructuring plan, designed to eliminate $2 billion in operating costs. For the restructuring, Compaq expects to take a hefty charge in the third quarter. This news follows the ouster of CEO Eckhard Pfeiffer earlier this year.
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