BLUE BELL, Pa.--Unisys Corp. said it will slash 1,300 jobs globally as part of an effort to cut costs by more than $225 million a year.
The technology services provider has struggled as demand for its services has waned due to tightening credit and curbed customer spending. In November Standard and Poor's said it was taking the company off its S&P 500 index.
Unisys said late Monday that the job cuts would continue into next year.
Aside from the work force reduction, Unisys said it was taking several other steps to lower its selling, general and administrative expenses and labor costs including consolidating plants, freezing most 2009 salary increases and suspending 401(k) matches, which totaled approximately $50 million a year.
Unisys anticipates the actions will lead to a fourth-quarter charge of $80 million to $85 million
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