TECHNOLOGY - Aug. 18, 1992
From Times Staff and Wire Reports
IBM May Withhold Wang Payment: International Business Machines Corp. refused to confirm a report that it will withhold a $75-million infusion for Wang Laboratories Inc. IBM had agreed to provide the money to Wang as part of a deal under which Wang is selling IBM computers. But the Wall Street Journal reported that Wang apparently isn’t selling enough IBM computers to qualify for the $75 million. Wang, based in Lowell, Mass., has delayed reporting results for the fiscal year ended June 30. It is expected to take a charge against earnings to cover the cost of 1,000 layoffs, leaving a payroll of about 12,500. Wang stock closed at 75 cents a share on the American Stock Exchange, down 87.5 cents.
