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Unisys to shed workers

By Derek Sooman

On October 7, 2004, 2:44 PM

Unisys is to shed 1,400 workers in order to save $70M a year by the end of 2005. The firm will take a one time $63m charge to earnings for the actions, and will require around $85M in cash during 2005 to make the moves. The firm already has some of that cash, in the form of a $30m payout from an income tax refund. More here.

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