Paradyne Corp will be taking a $26m charge with its third quarter figures to cover the cost of lay-offs of 300 staff, and elimination of its older packet switching and encryption product lines, and some terminals, leading the Largo, Florida company to report a loss for the period: it will also have to pay M/A-Com […]
Paradyne Corp will be taking a $26m charge with its third quarter figures to cover the cost of lay-offs of 300 staff, and elimination of its older packet switching and encryption product lines, and some terminals, leading the Largo, Florida company to report a loss for the period: it will also have to pay M/A-Com Inc $6m to settle a civil law-suit relating to Paradyne’s disastrous 1981 pact with the Social Security Administration.
