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Wednesday, October 27, 2004

EDS offers early retirement to U.S. staffers

Infoworld reported, Electronic Data Systems Corp- ( EDS) offered voluntary early retirement options to about 9,200, or 17 percent, of its U.S. employees, as part of its ongoing efforts to reduce costs. EDS Chairman and Chief Executive Officer Michael Jordan said last month the company plans to eliminate between 15,000 and 20,000 jobs over the next two years as part of an effort to slash $3 billion in costs.An EDS spokeswoman said the company is taking steps to prevent problems related to losing older workers. EDS has succession plans in place across the organization and the retirement offer excludes certain employees, such as some government account workers with high security clearances. Employees in the AT Kearney consulting wing and most workers on the General Motors account also are ineligible. In addition, the retirements will be staggered through Sept. 30, 2005, "to ensure service quality is maintained," EDS said in a statement Tuesday. Some big churn is definitely happening in the IT professional services market. Yesterday we covered the rise of India based outsourcing companies the rise of India based outsourcing companies giving a tough time to the global professional service organisations.
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