EDS may cut 20,000 employees
- By Michael Hardy
- Sep 10, 2004
EDS officials may cut up to 20,000 employees during the next two and half years in a cost-cutting measure, according to its chief executive.
Michael Jordan, EDS' chairman and CEO, made the prediction Sept. 9 in a speech to the Smith Barney Citigroup 2004 Technology Conference in New York.
Company spokesman Kevin Clarke said Jordan was not referring to any specific staff cut plans. "That's not a target, it's just that looking forward, that's what we might have to do," he said.
There is no way to know where in the company the staff cuts might come from or whether they would affect federal government operations, he said.
Jordan said the cuts would slash $3 billion from the company's expenses. The company recently cut about 5,200 jobs and has 120,000 workers remaining, according to an Associated Press report.