04.120.2004 - Gateway to Eliminate Another 1,500 Jobs

SAN DIEGO (AP) -- Computer and electronics seller Gateway Inc. is cutting another 1,500 jobs, or about 40 percent of its remaining work force, only a month after a similar cut. Thursday's announcement came as Gateway posted its 13th loss in 14 quarters. The jobs will be eliminated by year's end, chief executive Wayne Inouye said. The layoffs will leave the company with about 2,000 employees, down from a peak of about 25,000 employees in 2000. Earlier this month, the Poway, Calif.-based company shut all 188 of its retail stores, cutting 2,500 jobs. - View Press Release - Visit Gateway, Inc. - Source: Yahoo! Finance