[Am-info] EDS To Cut 2,000 Jobs

[Fred A. Miller]

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EDS To Cut 2,000 Jobs

Computer-services firm EDS will cut 2,000 workers, or 1.4% of its=20
staff. In a conference call with analysts, chairman and CEO Dick=20
Brown vehemently denied that the layoffs are a result of its=20
11-year contract with swooning telco WorldCom. Brown said layoffs=20
are part of the nature of consulting.

Investors watching the WorldCom debacle unfold late last month=20
weren't so sure EDS is insulated. EDS shares tanked, falling 35%=20
as June drew to a close. Meanwhile, investors are growing=20
skeptical about EDS's own earnings statements, which some think=20
are complicated and could have masked revenue-inflating=20
accounting tricks. Bunk, Brown said. "Our accounting at EDS is=20
clear, conservative, and concise." - Eileen Colkin

For more on layoffs, read:
Telecom Leads Layoff List
http://update.informationweek.com/cgi-bin4/flo?y=3DeHul0Bce7K0V20Bezv0A2

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Fred A. Miller
Systems Administrator
Cornell Univ. Press Services
fm@cupserv.org, www.cupserv.org
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