Unisys cuts 1,300 jobs, suspends raises
US technology firm Unisys Corp. announced on Monday it was cutting 1,300 jobs as part of a series of cost-savings moves aimed at saving over $225 million a year.
By Agencies |
WASHINGTON: US technology firm Unisys Corp. announced on Monday it was cutting 1,300 jobs as part of a series of cost-savings moves aimed at saving over $225 million a year.
"These actions to reduce costs include reductions in third-party expenses, facility consolidations (and) headcount reductions of approximately 1,300 positions worldwide," the company said in a statement.
The information technology services company said the job cuts have already begun and will continue into 2009.
Unisys also said it was suspending matching contributions to 401(k) retirement plans, which had been costing some 50 million dollars a year.
It said there would be no salary increases next year in most of the company's markets.
Unisys said it expects the moves to result in a fourth-quarter 2008 restructuring charge of $80 to $85 million.
"These actions to reduce costs include reductions in third-party expenses, facility consolidations (and) headcount reductions of approximately 1,300 positions worldwide," the company said in a statement.
The information technology services company said the job cuts have already begun and will continue into 2009.
Unisys also said it was suspending matching contributions to 401(k) retirement plans, which had been costing some 50 million dollars a year.
It said there would be no salary increases next year in most of the company's markets.
Unisys said it expects the moves to result in a fourth-quarter 2008 restructuring charge of $80 to $85 million.
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