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Apple Computer of Cupertino, Calif., and Honeywell announced an agreement under which Honeywell
The company said the layoffs are part of an effort to become more competitive in the small computer and office systems market.
Computer companies reported diverging results Monday, as Honeywell said its profit fell 31.2% in the second quarter while NCR reported an 18% gain.
Honeywell Inc. of Minneapolis said that its first-quarter net income plunged 43%.
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Honeywell Inc. said it lost $492.8 million in the fourth quarter of 1986 because of huge, one-time charges for restructuring, writedowns and asset sales.
About 150 demonstrators were arrested Thursday at the gates of Honeywell Inc. in a weapons protest
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The Minneapolis-based computer company said the measure was designed to protect shareholders' interests in the event of a hostile bid.
The fine was the largest ever levied by a federal consumer agency in a case involving heater and furnace valves.
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Honeywell Inc. said its net income for the third quarter was $55.7 million, down from $93.3 million in the like period a year ago.