Can Rod Canion Stop Compaq's Erosion?

It has been a painful year for Compaq Computer Corp.'s Rod Canion. Battered by competition from the IBM PC clones that it always disparaged, the company that once set growth records for U. S. industry stopped growing. For the year, Compaq will show a 10% to 15% drop in revenues, to about $3.1 billion, analysts figure. On Oct. 23 came the biggest blow: A $70 million loss and plans for the company's first-ever layoffs, 12% of its 12,000 workers.

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