ENDOTRONICS <ENDO> REDUCES STAFF
Endotronics Inc said it has cut
about 70 employees, or 42 pct of its worforce.
    It said the action is necessary to successfully reorganize
the company under Chapter 11 of the U.S. bankruptcy code, for
which it filed last week.
    A company spokesman also said Eugene Gruenberg, Michael
Gruenberg and Jeffrey Ringhofer have severed all ties from the
company.
    Last week these men resigned from executive posts - Eugene
Gruenberg had been chairman and chief executive, Michael
Gruenberg had been president and chief operating officer, and
Ringhofer had been vice president of marketing. But they had
retained other duties until Monday, the spokesman said.
 Reuter
