Feeds

Unisys to decimate workforce after poor Q3

Come in number ten, your time is up

Combat fraud and increase customer satisfaction

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.®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.