DULUTH, Ga. – ATM manufacturer NCR Corp. said it plans to cut up to 10% of its workforce – as many as 2,000 employees – to reduce costs after reporting its third-quarter profit tumbled 81%.
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NCR, which said in June it was moving its headquarters to Georgia after 125 years in Ohio, said it would cut 5% to 10% of its work force, which currently totals about 22,400 people.
The company reported third quarter net income of $15 million, down from $80 million for the same period last year. Revenues fell almost 12% to $1.14 billion, from $1.38% for last year’s third quarter.
For the first three quarters of the year, revenues were down 16% to $3.37 billion, and net income was down 87% to $23 million.
