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Technology Iomega relocating headquarters to San Diego

Iomega Corp. last week confirmed it will bring its 100-employee corporate headquarters to San Diego, leaving its home base of Roy, Utah.

The maker of computer storage devices and media will occupy 10,000 square feet of space, said a representative of the San Diego Regional Economic Development Corp.

Marketing and certain executive staff will come to San Diego. Other operations, including research and development, will stay in Roy, which is near Ogden.

A company spokesman said Iomega will complete its move in six months and will do some local hiring to fill out its San Diego staff.

Iomega board Chairman David J. Dunn lives in La Jolla. Company President and CEO Werner Heid lives in San Diego. Heid took the top executive’s job in June. He is the company’s fifth CEO in four years.

The troubled company has been working through a restructuring plan, which includes laying off 1,234 regular and temporary personnel, or 37 percent of its staff. During its third quarter ended Sept. 30, Iomega lost $71 million on revenues of $182 million.

Iomega shareholders approved a one-for-five reverse stock split that was effective Oct. 1.

The company’s stock closed Oct. 24 at $6.65 per share.

One of Iomega’s highest profile products is the Zip drive and disk for personal computers. It has shipped 44 million such drives and 275 million disks.

The company trades on the New York Stock Exchange under the symbol IOM.

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