EDS takeover leads to UK job losses
The takeover of EDS by Hewlett Packard is having effects in the United Kingdom. EDS has several IT and computer support contracts with the British Government. These are primarily in the non-Defense sector. In a difference from standard American practice these workers are unionized. Now they have been told with the amalgamation of the companies that over 3,000 jobs will be eliminated. This is due to the decision by HP to streamline its new combined workforce (i.e. reduce). Unreported is the possibility that some of these jobs will move to Hewlett Packard.
See the story at Channel Register.
Northrop Grumman continues strong performance of defense sector
Northrop Grumman continued the trend of the defense sector by reporting strong earnings and profits. See an article here. There had been some trepidation due to the taking back of the KC-45 contract. The company is able to still win this in December, and if it does it will contribute to further strong earnings and profits.
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