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Lexar Cuts Workforce, Names New CEO

Fremont, Calif. – Flash memory manufacturer Lexar Media announced that it will slash 27 percent of its workforce. A full announcement is due on July 25 when the company releases its second quarter earnings.

Lexar also announced the promotion of COO Eric Stang to president and CEO. John Reimer,who has served as president and CEO since 1997, was elected chairman of the Board.