Feeds

Unisys to decimate workforce after poor Q3

Come in number ten, your time is up

Internet Security Threat Report 2014

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.®

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.