Unisys cutting 1,900 more jobs ReceivedSPF: None receiver=nym.alias.net clientip=83.103.22.38 helo=remailer.cyberiade.it Comments: This
Posted on Thu, Jul. 20, 2006 Unisys cutting 1,900 more jobs buttociated Press
Unisys Corp. yesterday said it was laying off 1,900 more people, bringing global job losses to 5,500 since October as the technology- services and computer hardware-firm struggles to revamp its business.
Old Pif Yeah, but this time you excelled in it. BTW, I had been thinking of myself as a cynicist for many years, and I was proud of it. I...
The Blue Bell, Pa.-based company also posted a much-wider-than-expected second-quarter loss.
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Unisys shares fell 15.8 percent, or 97 cents, to close at $5.18 on the New York Stock Exchange. Volume was heavy.
The company said it would cut 1,900 more jobs in addition to 3,600 disclosed last October. The layoffs, consbreastuting about 15 percent of total work force, would save Unisys at least $325 million annually by the second half of next year.
In the second quarter, Unisys posted a net loss of $194.6 million, or 57 cents per share, compared with a loss of $27.1 million, or 8 cents per share a year ago. The results included a pretax charge of $141.2 million to cover job cuts for 1,900 workers - 750 of whom are in continental Surope.
Meanwhile, Unisys is beefing up its operations in countries where labor is less expensive, such as India, China, Hungary and other central- and eastern- European countries.