EDS to lay off 20,000 ???

[ret5hd]

One of my employers IT guys (subcontracted by eds) that i'm friendly with told me today that eds is preparing to lay off 20,000 (out of 60,000). Anyone else heard anything of this?

[SoCalDem]

1. My son works for EDS

:scared:

[ewagner]

2. Couple of weeks ago

there was a thread posted here.........20,000 over two years if I recall.

I was surprised it didn't cause an earthquake on the financial markets.

[movonne]

3. Not till after the election....media won't say much til after the election

[ret5hd]

5. man...oh man...

i guess he's right then.

[4morewars]

4. It's the standard line...

at EDS. Some "management" theory about keeping the workers scared produces better work, or some such shit. That doesn't mean there wont be layoffs though. I believe they have been downsizing for quite some time.

[BlueEyedSon]

6. News story with link

EDS Planning Layoffs
By Steven Lang, VARBusiness
1:31 PM EDT Tue. Sep. 14, 2004

EDS expects to lay off between 15,000 and 20,000 workers in the next 24 months to save $3 billion, said Michael Jordan, chairman and chief executive, at the Smith Barney Citigroup 2004 Technology Conference in New York.

The new job cuts come on the heels of a reduction of 5,000 in head count in the past year. Currently, the company has approximately 120,000 employees, so the workforce reduction could cut total head count by as much as one-sixth, or 16.67 percent.

More: http://www.crn.com/sections/breakingnews/breakingnews.jhtml?articleId=47205133

[ret5hd]

7. thnx. (nt)