Unisys Feels The Pain As Losses Grow

Unisys Feels The Pain As Losses Grow

IT services supplier Unisys has announced a 2008 fourth-quarter loss of $58m (£40m), down from a profit of $13.8m (£9.5m) in the same period the previous year, after it was battered by the financial crisis and currency fluctuations.

The company is planning to cut about 1,300 jobs and suspend matching contributions to its pension plan.



Chief executive Ed Coleman, who joined the company last October, said that the firm is taking aggressive actions to simplify its business structure.