San Francisco Compaq Computer Corp. will lay off 4,000 more workers this year, nearly doubling layoffs it announced earlier, as sales in Europe decline.
Compaq said Tuesday it would report second-quarter operating profits of 4 cents per share July 25, in line with analysts' forecasts. The company would take a $490 million restructuring charge in the quarter.
Revenues would be less than expected at $8.4 billion, well below the Thomson Financial/First Call consensus view of $8.81 billion.
Echoing comments from other tech companies, Compaq blamed the sales shortfall on worsening conditions in Europe.