Dayton, Ohio, Oct. 25, 1999 - NCR Corporation announced that it is accelerating its transformation from a computer hardware and product company to a technology solutions and services provider by focusing the company on three customer-centered, growth-oriented business solutions offerings, facilitating the elimination of losses from commodity hardware, and intensifying emphasis on data warehousing. Overall, the changes will lead to an alignment around three key solutions, the elimination of approximately 1,500 positions, and an enhanced leverage of the investment in the data warehousing offering. The three key solutions portfolios include data warehousing, financial self service and retail store automation.
The costs associated with these changes will require a restructuring charge in the range of $200-$250 million, which will be recorded in the fourth quarter of 1999 and will be offset by a non-recurring tax reserve gain. These costs, incurred primarily to restructure the commodity hardware-based Channel Delivery Solutions business, include employee separation, facility consolidation, satisfaction of customer obligations, and write down of goodwill and assets. NCR expects to realize annual savings of approximately $75 million as a result of these initiatives, beginning in 2000.
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