EDS offers retirement to 12,000 workers

Technology services company, which recently got a new CEO, expects a charge of $70 million to $130 million in fourth quarter.

The story "EDS offers retirement to 12,000 workers" published September 12, 2007 at 11:21 AM is no longer available on CNET News.

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[abbottpark]

EDS failure

EDS has been on the decline for a long time. Most of there money is made on government contracts. They need new leadership.

[asdf]

Meanwhile, the pigs are at the trough

From EDS's 8-K filing:<br /><br /><a class="jive-link-external" href="http://biz.yahoo.com/e/070723/eds8-k.html" target="_newWindow">http://biz.yahoo.com/e/070723/eds8-k.html</a><br /><br />In connection with Mr. Rittenmeyer's appointment as Chief Executive Officer, on July 17, 2007 the Compensation and Benefits Committee of the EDS Board of Directors (the "CBC") approved an increase in his base salary from $1,000,000 to $1,300,000 per year and increased his annual target bonus opportunity for 2007 from 110% to 125% of base salary, both effective on August 1, 2007. <br /><br />Translation: OINK OINK OINK... now gas the little people......<br /><br />Let me ask you something-n what the hell doe sthis oinker DO that's worth 400 times a good programmer does? Have a five martini lunch with other CEOs? What a joke. <br /><br /><br />Meanwhile, while EDS is so awash in talent that it can afford to make 12,00 of it's "most valued employees" walk the plank, EDS is also lobbying Congress for more H1Bs because , hey, there's a desperate labor shortage!!!<br /><br /><a class="jive-link-external" href="http://www.youtube.com/watch?v=oPblKUSX4UY" target="_newWindow">http://www.youtube.com/watch?v=oPblKUSX4UY</a>

[pathbreaker]

like father, like son

In the meanwhile Mr. Ron Rittenmeyer's son Chris Rittenemeyer gets a "double promotion" and becomes a Vice President heading EDS operations in Europe.<br /><br />Mr. Rittenmeyer secures a $7 million payout if he fails in his mission, and gets fired within three years. <br /><br />This guy is a shameless ballbreaker! <br /><br />Tyrants like him don't last long.

[Stating]

EDS Hires 12,000 In India

That will be their next move.