BOSTON — Digital Equipment Corp. reported a $256.7 million fourth-quarter loss Wednesday, the computer giant’s first-ever quarterly loss and a reflection of a voluntary severance program under which 3,000 employees left during the last 12 months.

Mark Steinkrauss, director of investor relations, said Digital’s restructuring program included plans to cut another 5,000 to 6,000 people in the coming months through voluntary severance and attrition.

The loss by one of New England’s most important companies provided further evidence of trouble in the region’s economy, which grew quickly during the boom years of the 1980s but tumbled into recession because of the slumping high-technology, financial services and real-estate industries.

But some securities analysts who follow Digital saw the loss as a piece of good news because it showed the company was aggressively trying to cut expenses while remaining competitive.

“I’m encouraged that they decided to bite the bullet and do it,” said Marc Schulman, an analyst with UBS Securities Inc. in New York. “Things are as bad as they’re going to get, and now they’re going to get better.”

Added Steinkrauss: “The company knew exactly what it was doing … in light of what it needs to do in terms of reducing its cost structure.”

Still, the news was not well received on Wall Street. Digital stock fell 62 1/2 cents a share to $74.87 1/2 in New York Stock Exchange trading.