 In June 1998, Stan Boland took over as CEO of Acorn Computers from David Lee who started a review of Acorn's core business.The company had losses of £9 million in the first nine months of the year and in September 1998 the results of the review led to a significant restructuring of the company.The Workstation division was to close, a forty percent reduction in staff and the Risc PC 2 code-named "Phoebe" that was nearing completion was cancelled.