US-based integrator Computer Sciences Corp (CSC) will cut 350 staff members of its 3,500-strong Nordic workforce, it says. The staff cuts are part of CSC's restructuring, CSC Denmark's CEO Jørgen Jacobsen said.
"We expect to transform the workforce so CSC can compete more effectively, take advantage of market opportunities and lead the market," he told Reuters.
CSC works with a lot of US federal and state customers, as well as European (mainly UK) business and has had continuing problems over recent years. Goldman Sachs downgraded it from a “buy” rating to a “neutral” rating earlier this week. In its last quarter, the company reported revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.19bn. Computer Sciences’s revenue was down 8.7% compared to the same quarter last year.