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4/29/2004

Storage Tech reportedly planning layoffs

The Associated Press

LOUISVILLE — Storage Technology Corp. is planning to lay off employees worldwide this week.
Spokesman Joe Fuentes said he did not know the extent of the cuts, but that some will be in Louisville, the company’s headquarters.
“I have not seen any kind of numbers that are solid,” he said Tuesday.
Many of the cuts will be in the company’s sales force, Fuentes said.
Others are the result of a January reorganization that merged several departments into two, called Automated Tape Solutions and Information Lifecycle Management Solutions.
StorageTek makes tape-storage devices used by governments and various businesses.
Last week, the company said first-quarter revenue from its service business grew 11 percent from the same quarter of 2003.
At the end of 2003, StorageTek had 7,100 employees worldwide, including 2,000 in Colorado.