Unisys to shed workers

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 (http://www.theregister.co.uk/2004/10/07/unisys_finance/).