FLOATING POINT <FLP> CUTS WORKFORCE
Floating Point Systems INc said it
implemented a restructuring, consolidating eight departments
into four and decreasing its worldwide staff to 800 from 1,200.
    It said cost-cutting measures include a significant
reduction in its Ireland manufacturing facility.
    "Our expectation that 1987 will be a slow turnaround year
requires an intensified effort to make operations more
cost-effective," chairman Milton Smith said.
    For the year ended October 31, 1986, FLoating POint
reported a net loss of 14.3 mln dlrs or 1.67 dlrs per share on
sales of 88.6 mln dlrs.
    Floating Point said it expects to incur a charge of between
five and 10 mln dlrs in its third quarter ending July 31 which
will be off from last year's third quarter.
    In 1986, Floating Point reported a third quarter loss of
two mln dlrs on sales of 20.8 mln dlrs
    Floating Point said it expects to report another loss for
the full year. It said its restructuring will result in savings
of between four and five mln dlrs on a quarterly basis.
 
 Reuter
