Feeds

EDS waves goodbye to 5,200 staff

Putting on the pink slips

  • alert
  • submit to reddit

The essential guide to IT transformation

EDS is axeing 5,200 jobs worldwide by the end of 2004. The computer services giant had already announced that it was making 2,700 of these job cuts in June, so this news represents more belt-tightening.

EDS yesterday announced a net loss of $0.5m on revenue up 6 per cent to $5.24 billion.

In a memo to staff, Bob Swann, CFO, said the company thinks it is now better positioned to grow its business. He expressed confidence in EDS' ability to turn the financial corner in 2004. But the imperative to cut costs, including staff costs, remains.

"We need to continue streamlining our operations, however, to compete effectively against technology conglomerates and low-cost overseas providers," he said. ®

Boost IT visibility and business value

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Broadband slow and expensive? Blame Telstra says CloudFlare
Won't peer, will gouge for Internet transit
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Best practices for enterprise data
Discussing how technology providers have innovated in order to solve new challenges, creating a new framework for enterprise data.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?