Electronic Data Systems chief Michael Jordan announced Thursday that a total of 20,000-25,000 jobs will be eliminated over the next two years (including 5,000 already slashed). The move comes as the company tries to attempt a death spiral. This summer Moody's downgraded the outsourcing behemoth's stock to junk status. It is pretty certain that they will find any way possible to cut the experienced people who once made the company successful in deference to cheaper labor.
by Joshua Brauer on September 9, 2004