Feeds

Unisys to decimate workforce after poor Q3

Come in number ten, your time is up

The essential guide to IT transformation

Unisys admitted a dismal third quarter yesterday and promptly promised Wall St it would dump 10 per cent of its workers over the next year.

The company said hammering down its headcount would cost $250m to $300m over the course of 2006, but would result in an analyst-pleasing $250m of savings on an annual basis by the end of 2007.

Revenues in the quarter ending September 30 were $1.39bn, down from $1.45bn a year ago. Operating losses were $76.2m compared to last year’s $38m shortfall, while net loss was $54.3m, compared to a $25.2m profit a year ago.

The revenue shortfall was entirely down to the firm’s technology business, which saw revenues slump from $298.6m a year ago to $213.1m.

Unisys said the Q3 numbers reflected weakness in its high-end server business, while its services business saw lower than expected revenues, under-utilization of personnel and higher implementation costs in project business and “continuing issues” in two challenging outsourcing operations.

Unisys's current workforce is around 36,000. A year ago it announced plans to cut 1,400 staff.®

Next gen security for virtualised datacentres

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

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.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
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?