ASX-listed integrator, UXC (ASX: UXC), has trimmed its head count as a result of the tough economic climate.
In the past couple of weeks about a dozen staff have been made redundant as the integrator faces a potential deferral of contracts, finance director, Mark Hubbard said.
“It’s a market that is tough to read; our own books remain quite strong,” he said. “But we are a bit fearful those orders won’t materialise and come to market.”
Hubbard would not identify which of the integrator’s three business units – Business Solutions, Field Solutions, and IP Venture – suffered the staff cuts but highlighted the company’s overall strength.
“We run pretty hard at our targets always and it is no different in this environment. In fact, it is probably heightened in this climate,” he said.
The cuts are the first sign the integrator is feeling the economic pinch. In late October UXC launched an off-market takeover bid for management consulting and professional services provider, Ingena Group (IGL).
And in the last financial year the Business Solution Group reported revenue of just more than $406 million for the 12 months to June 30, up from $294 million in 2007. Pre-tax earnings reached $36.5 million, up from $30.6 million in 2007.
The UXC news comes on the back of reports the Australian IT&T industry extended its decline in online job ads for the fifth month in a row. The Olivier Job Index fell 4.42 per cent in October with Australian job ads counted per week declining by 20,107 positions over the month.