"Tech services company Unisys sells stake, starts layoffs of 3,600 people (10%) worldwide

Tuesday, March 21, 2006
By Deborah Yao, The Associated Press

PHILADELPHIA -- Unisys Corp., the struggling technology services and hardware firm, said yesterday that it has sold its stake in a Japanese distributor and will use the proceeds to start the layoffs of 3,600 employees worldwide, or 10 percent of its work force.
"

"Laid Off Workers Need Quick Decisions (There were 103,000 layoffs last month)

Forbes.com

February 16, 2006, by Eileen Alt Powell, AP Business Writer

Associated Press-- In companies across the country, most notably automakers and airlines, layoffs are still a painful fact of life, forcing workers to make quick decisions about dealing with severance packages and retirement funds — while they're also struggling to keep up with bills and find new jobs.
"

"Thousands To Lose Jobs To Outsourcing
Only On 7
By David Louie
Feb. 8 - ABC7 News has learned the ax is about to fall on several thousand Oracle workers in California and Colorado. Those jobs are being outsourced to India.

The move has angered one Oracle manager so much he's given himself a pink slip in protest.
"

"White-collar workers on edge as they await fates

Boxes are ready for laid-off workers to pack up belongings; 4,000 cuts begin this week.

Sharon Terlep / The Detroit News

DEARBORN -- Anxiety roiled Ford Motor Co.'s headquarters and nearby offices Monday as thousands of white-collar workers waited to hear if they will lose their jobs in the company's restructuring plan.
"

"Insurer May Ax More Jobs

Sources: 100-Plus Cuts To Occur As Travelers Sends IT Work To India

By DIANE LEVICK
Courant Staff Writer

January 26 2006

The St. Paul Travelers Cos. is expected to announce today more outsourcing of information technology jobs that will mean more than 100 layoffs, most of them in Hartford, sources said.
"

"CIGNA Laying 109 Off

Sending Work To Philippines

By DIANE LEVICK
Courant Staff Writer

January 7 2006

CIGNA HealthCare said Friday it will lay off 109 service employees nationwide, including 56 in Bloomfield, as it outsources the work offshore, another expense-cutting move in the company's ongoing turnaround effort.
"

"(Challenger reports that US companies trimmed more than 140,000 jobs last year. This was up over 118,000 over a year ago period. Note that these layoffs occured during a "good" economy. - jgm)

A Year Of Google, iPods And Lagging Tech Jobs
BY NICK TURNER

INVESTOR'S BUSINESS DAILY

Posted 12/30/2005

It was a year of contradictions and reversals for tech companies.

The layoffs continued for many big firms, and an air of caution lingered — five years after the dot-com bust crippled the industry. Fearing that customer spending wouldn't rebound soon, companies scrambled to find merger partners.
"

" Smaller layoffs escape notice
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By Richard M. Barron
Staff Writer

It was a small layoff by Guilford County standards when 50 workers clocked out for the last time at Wendover Financial Services on Dec. 15.
"

"Adobe firing here, hiring overseas
By Marcus Courtney and Roberta Wilson

Potentially 600 Employees at Adobe Systems were handed pink slips last week in the U.S., while more than 300 tech workers in India are expected to be handed job offers in the coming year. (Read More)
"

"FORD WILL CUT 4,000 SALARIED: White-collar workers marked for layoffs starting next year

BY MICHAEL ELLIS
FREE PRESS BUSINESS WRITER

November 19, 2005

Ford Motor Co. will cut about 10%, or 4,000, of its white-collar jobs in North America next year, mostly through involuntary layoffs, as part of a sweeping cost-cutting plan to be unveiled in January, the company told workers in an e-mail sent Friday. (Read More)
"

"Novell Expected to Lay Off Up to 20 Percent
By Chris Preimesberger
October 24, 2005


A highly placed source at Novell Inc. has confirmed to Ziff Davis Internet that the company will lay off as much as 20 percent of its work force of 5,800 employees by the end of the year. The announcement is expected to be made sometime this week. (Read More)
"

"Unisys Corp. posts loss for third quarter, plans to cut 3,600 jobs

Unisys Corp. posts loss for third quarter, plans to cut 3,600 jobs

Canadian Press

Tuesday, October 18, 2005

BLUE BELL, Pa. (AP) - Technology consultant Unisys Corp. reported it lost $54.3 million US in the third quarter and said Tuesday it plans to cut about 3,600 jobs, or 10 per cent of its workforce, over the next year as part of a broad restructuring. (Read More)
"

" Unisys posts loss, plans job cuts (10% cut)

1 hour, 36 minutes ago

Unisys Corp. (NYSE:UIS - news) on Tuesday posted a quarterly loss and the provider of consulting services such as systems integration said it would cut 10 percent of its work force and divest businesses to cut costs.

The company, which said it expects to turn a profit in the current fourth quarter, plans to focus on high-growth areas such as outsourcing and security. It said it would take charges of about $250 million to $300 million through 2006 for the restructuring.

Unisys reported a third quarter net loss of $54.3 million, or 16 cents per share, including a pre-tax charge of $10.7 million, or 2 cents per share, related to its cash tender for 8-1/8 percent notes due in 2006.

Revenue declined 4 percent to $1.39 billion, falling short of analysts' average forecast, as polled by Reuters Estimates, of $1.43 billion.

The results compared with third-quarter 2004 net income of $25.2 million, or 7 cents per share. The year-ago results included a net benefit of $8.2 million, or 2 cents per share, from a tax benefit net of a charge for cost-reduction actions.

"We are disappointed by these results, and we are taking decisive actions to accelerate our repositioning efforts," said Joseph McGrath, Unisys president and chief executive officer.

Unisys expects the restructuring to yield about $250 million of yearly cost savings, on a run-rate basis, by the end of 2007.

"We look to close out 2005 with a profitable fourth quarter," McGrath said.

Shares of Unisys, which are off 42 percent this year, still trade at a slight premium to the company's peers in the S&P Information Technology Services index. With a 2007 price-to-earnings ratio of 23.6, the stock is the fifth most highly valued in that index, which is composed of 35 companies. "

"Seem like you're earning less? You aren't alone

By Charles Stein | October 16, 2005

If you think you've had a bad week at the office, imagine what it would be like to be an employee of Delphi Corp. The auto parts giant recently filed for bankruptcy court protection, and its chief executive, Robert Miller, wants to cut the pay and benefits of union workers to $20 an hour from $65 an hour. Miller has made it clear that in today's global economy, unskilled workers can't command such lofty compensation. (Read More)
"

"HP plans 5,900 layoffs in Europe

Tom Krazit

Of the 14,500 layoffs announced by Hewlett-Packard Co. in July, 5,900 jobs will be cut from company sites in Europe, the Middle East, and Africa (EMEA), an HP spokesman confirmed Friday. (Read More)
"

" LaSalle parent to cut 3,500 IT jobs
Chicago data center among facilities slated for cutback

By Geoff Dougherty
Tribune Staff Reporter
Published September 2, 2005

LaSalle Bank's corporate parent, Amsterdam-based ABN Amro, announced Thursday that it would trim 3,500 jobs from its worldwide information technology operation by outsourcing much of its computer work (Read More).
"

"Agilent announces 1,300 layoffs

RESTRUCTURING TO FOCUS CORE COMPANY

By Dean Takahashi

Mercury News

Agilent Technologies said Monday it is taking a series of actions -- including laying off 1,300 employees -- as part of a restructuring aimed at transforming the conglomerate into a more focused company in the wake of its agreement to sell its chip division for $2.6 billion. (Read More)
"

"Layoffs more likely in Silicon Valley than rest of Bay Area
Wednesday August 10, 4:31 pm ET

Only 8 percent of Bay Area executives surveyed say they plan to cut jobs in the next six months, but the Santa Clara County rate is twice that number, according to a report released Wednesday.

The Bay Area Council's Business Confidence Survey showed an overall improving jobs picture, with 38 percent of those surveyed planning to add workers, while 51 percent said they will keep the size work force they currently have. (Read More) "

"Novell announces European layoffs
Stephen Shankland
CNET News.com
August 03, 2005, 09:40 BST

News of 150 job losses in Novell's European operation have led some to suggest that 'Europe could be weak again' (Read More)
"

"Summer's No Time for Big Layoffs (Except This Year)

--------------------------------------------------------------------------------

August 7, 2005
Summer's No Time for Big Layoffs (Except This Year)
By HUBERT B. HERRING

It will become cool again. Really. Then the people lurking in dark corporate corners who have the unenviable task of telling other people that they're about to be out of work will settle down to their grim work in earnest. (Read More)
"

"Job cuts drop but still top 100,000
But planned layoffs, led by auto industry, are running at high levels: employment firm Challenger.
August 3, 2005: 10:46 AM EDT

NEW YORK (Reuters) - Planned layoffs fell 7 percent in July from June, led by job cuts announced in the consumer products, computer and financial industries, a report said Wednesday. (Read More)
"

"LAYOFFS WILL SLAM MARTS

By JOHN CRUDELE


August 2, 2005 -- FRIDAY'S employment report could be too disappointing to explain away.

I'm going out on a thin limb here since Wall Street — the land of eternal optimism born of never-ending hucksterism — is expecting a reasonably healthy 180,000 jobs to have been created in July. (Read More)
"

"Begin preparing now for life after layoffs
By The Detroit News

Self-help gurus like to remind us, "Today is the first day of the rest of your life." It's meant to be a good thing, but what if today were the first day of your life without a job for the next two years? (Read More)
"

"(What's in your wallet? - A PINK slip - jgm)

Capital One cuts at least 35 jobs
Some of the IT employees will work through vendors; managers also report layoffs

BY CAROL HAZARD
TIMES-DISPATCH STAFF WRITER

Jul 29, 2005

Capital One Financial Corp. is at it again.

Richmond's largest nongovernment employer, a credit-card and consumer-finance company, continues to trim staff and outsource work to other companies. (Read More)
"

"Unisys to leave Rancho Bernardo


By: BRADLEY J. FIKES - Staff Writer

RANCHO BERNARDO ---- Unisys Corp. will close its Rancho Bernardo office in one year and transfer the operations to Mission Viejo in a consolidation, an official with the information technology company said Wednesday. (Read More)
"

"Layoffs redux: CA cuts another 5 percent of staff
About 800 positions are to be eliminated in move

By Stacy Cowley, IDG News Service
July 27, 2005

Computer Associates (Profile, Products, Articles) International (CA) plans to cut 800 positions worldwide, around 5 percent of its workforce, in a restructuring effort aimed at saving $75 million annually. CA will finish most of the worldwide layoffs by the end of 2005, the company said. (These cuts will be "worldwide" only if the World is defined as the United States. - jgm)

The move echoes a similar announcement in September, when CA initially cut 800 jobs to reduce its operating costs. Islandia, New York-based CA finished its 2005 fiscal year, which ended in March, with 15,300 employees -- the same number it had a year earlier, despite its September restructuring. The job cuts were offset by the 400 employees CA gained in its October purchase of Netegrity, and by the 350 additional employees CA hired in India. (Read More)
"

"Ford orders surprise layoffs
Kentucky Truck Plant to lose 250 jobs as Excursion is dropped

By Robert Schoenberger
rschoenberger@courier-journal.com
The Courier-Journal

Ford Motor Co. announced plans yesterday to cut 250 jobs from its eastern Jefferson County pickup plant, which had been considered safe because of the popularity of its Super Duty trucks. (Read More)
"

"Corporations hit labor hard with layoffs
JOBLESS RATE UP: More job seekers offset 15,600 new positions in California in June

- Tom Abate, Chronicle Staff Writer
Saturday, July 23, 2005


California employers created 15,600 nonfarm payroll jobs in June, but growth in the ranks of job seekers pushed unemployment up, the state Employment Development Department said Friday. (Read More)
"

" After Announcing Huge Layoffs, HP Seeks 1,302 New Hires

(Only 244 of the postions are in the US. 419 are in Bangalore. - jgm)

By Alexander Wolfe, TechWeb News

Engineers and programmers worried about impending layoffs at Hewlett-Packard, which announced on Tuesday that it plans to cut 14,500 jobs, might want to start sending their resumes around internally. That's because a check of the "Jobs at HP" Website indicates the company is still recruiting for lots of open positions. A search of the site on Friday afternoon returned requisitions for 1,302 open positions, including a wide variety of engineering, software development, and customer-support slots. (Read More)
"

"Honeywell to slash 2,000 jobs
2,000 aerospace workers will be affected

Jonathan J. Higuera
The Arizona Republic
Jul. 21, 2005 12:00 AM

About 2,000 jobs will be cut in Honeywell's aerospace division worldwide, company officials said Wednesday.(Read More)
"