Unisys plans to cut 1,400 workers

http://www.mlive.com/newsflash/business/index.ssf?/base/business-27/109715334210330.xml&storylist=mibusiness

BLUE BELL, Pa. (AP) — Unisys Corp. plans to cut 1,400 jobs, or nearly 4 percent of its work force, and consolidate some facility space, moves that will help yield annualized savings of about $70 million a year by 2005.

The computer-services company, which employed 37,000 workers worldwide as of July, said in a statement Wednesday that the cost-cutting would result in an after-tax charge to earnings of about $63 million, or 19 cents per share, in this year's third quarter.

Unisys spokeswoman Elizabeth Douglass declined to comment on where the cuts would take effect.

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The company has struggled to achieve growth as corporate spending on information technology has been sluggish.

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I thought that all of the *Co tax cuts were aimed at boosting corporate spending. Silly me, I must have misunderstood. /sarcasm

and good luck in your new careers on eBay.

Recent studies have shown that CEOs of companies who lay off large numbers of people in the US get the largest bonuses.

So, let's get to the only bottom line that really matters.

How big a bonus does the CEO get for doing this?

After all, the onlypurpose of a corporation is to enrich the CEO and few other top executtives.

eom

which was touted everywhere. While Unisys employees are not Amish I wonder if it was a hint from Dumbya..."give up your jobs and return to plowshares" because farming is going to be all we are going to leave you with when we've wrecked the country's economy. :-(

*Co goes somewhere or touts something, very soon afterwards it turns to shit?

the reverse Midas touch.

pretty soon, folks are going to request that he quit using their names or getting near their towns :evilgrin:

wherever he goes. :evilgrin: and :-( The man is a walking disaster.

One cannot repeat it too many times!

Blue Bell is most certainly not Amish country, I used to work there. Got laid 0ff by this company in 2001. Best thing that ever happened to me. This is one you can't blame on Bush, Unisys has been failing since...1986 when it was created from the merger of two other computer companies. Merger was a stock windfall for various corporate bigwigs who then took the money and ran. Employment at merger - 120,000. Employment today - 37,000.