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February 21, 1989


By CBR Staff Writer

After a disappointing fourth quarter and dull outlook for the first half of 1989, Unisys Corp is battening hatches all round to reduce costs. Its inventory clear-out was revealed when there was a squeal of pain from Arix Corp over deferred shipments of Unix machines (CI No 1,120) and now the company has been telling analysts that it wants to reduce its 93,000-strong workforce by 3% this year. It has instituted a modest early retirement programme to achieve its objective, offering to make 900 to 1,000 US employees who are 58 or older and have been with one of the constituents of the company for at least 15 years, two years older for the purposes of pension calculations; two years will also be added to their term of service. Those under 62 who elect to go will get $500 a month until the social security system starts paying them a pension at 62. Other employees can elect to be declared redundant and take with them one week’s salary for each year of service. The cuts follow a 3% reduction in the Unisys workforce last year, and the new one is not expected to lead to a new charge against profits because it took $20m in the fourth quarter. The company remains confident that business will pick up in the second half when its new top-end mainframes start going out in big numbers.

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