Unisys to lay off 1400 workers

Unisys to lay off 1400 workers

Unisys plans to cut 1400 jobs, primarily in general and administrative areas, and consolidate its office space worldwide. The cuts represent 3.8 per cent of the company's staff of 37,000.

It expects to save about $US70 million a year as a result of the move.

However, the changes woud result in a one-time, after-tax charge of about $US63 million in the third quarter of 2004, Unisys said.

At the same time, it also announced that it has netted a refund of about $US30 million in settlement of US tax audit issues dating from the mid-1980s.

The settlement meant the company could adjust its reserves for tax liabilities, allowing it to record an after-tax benefit of about $US70 million in the third quarter, it said.

Unisys still expects to meet its previous guidance for the third quarter. In July, it predicted third quarter revenue would remain stable compared to last year's total of $US1.45 billion, albeit with a slight decline in revenue from its technology business sector, which accounted for about one-sixth of total revenue.

A spokesperson for Unisys Australia said the impact of the announcement upon local staff numbers or its operations facilities had not been confirmed.

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