Here is one analyst's opinion of what Dick Brown has in store. It might be required to keep up our payments to Les and his cronies.
Dan
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Dow Jones Online News, Wednesday, April 21, 1999 at 18:37
NEW YORK -(Dow Jones)- Electronic Data Systems Corp. will soon
announce plans to lay off around 5% of its 120,000 employees, according
to Merrill Lynch & Co. analyst Stephen McClellan.
The computer-services company, which is attempting to restore profit
growth, could save $300 million annually with the layoffs, McClellan
said Wednesday. "We view this as long overdue belt tightening and an
invigorating move to streamline operations," McClellan said. He added
the layoffs would range from administrative to managerial positions.
EDS is in the midst of turning around under new Chairman Dick Brown.
The company is slated to host an investor meeting April 29. Brown is
expected to cut costs, sell off unprofitable businesses and enter new
markets to get EDS's bottom line growing again.
Last month, Gary Rudin, a senior vice president and chief information
officer, and John Harris, a corporate vice president and director of
corporate marketing and strategy, resigned from the company.
The company did say it plans to eliminate 611 positions in Texas.
EDS, based in Plano, Texas, has given 60 days notice to some of the
employees affected. EDS declined to say how many employees were
terminated.
Copyright (c) 1999 Dow Jones & Company, Inc.
All Rights Reserved.
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