Packard Bell NEC is undergoing sweeping reorganisation, in the wake of poor financial results for 1998.
NEC's worldwide general manager, Hisashi Kaneko, resigned in anticipation of the results, which had not been published at the time of going to press, but were expected to show a record loss of around #760 million.
Bull has increased its stake in Packard Bell NEC's European operation, from 12% to 20%. NEC denied that Bull was throwing the company a lifeline.
"It did not need bailing out," insisted Graham Hopper, UK managing director of Packard Bell NEC.
The company is to cut 15,000 jobs worldwide, but Hopper said none of these would be in Europe.
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