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Apple to pare assets, staff
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February 3, 1997: 7:18 a.m. ET
Troubled computer maker reportedly looking to step up cost-cutting efforts
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NEW YORK (CNNfn) - Apple Computer Inc. is reportedly considering selling off key assets and laying off as much as 20 percent of its workforce in order to step up its cost-cutting efforts.
The Wall Street Journal reported Monday that the personal computer pioneer has talked to venture capitalists about unloading its slow-selling Newton hand-held computer.
Also on the block could be some of the company's high-priced software development efforts.
Apple is also expected to announce as early as Monday a massive new round of layoffs which could reduce its 13,000 person workforce by as much as 20 percent.
The company reported an unexpected $120 million loss last quarter as sales of its flagship Macintosh computers have lagged.
Apple is expecting revenue to fall 20 percent to $8 billion in its current fiscal year from the previous year.
The news of the layoffs comes on the heels of last year's cutback of 1,500 employees. The newest round of layoffs would probably occur in March. 
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Apple Computer Inc.
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