NCR Corp. will cut 1,000 jobs next year, or 2.6 percent of its work force, and make its sales teams more involved in marketing and product development in yet another effort to revive the money-losing computer-maker.
NCR also said its third-quarter loss narrowed to $9 million, or 9 cents per share, from $33 million, or 32 cents per share, a year earlier. NCR was expected to lose 10 cents a share, the average estimate of three analysts surveyed by I/B/E/S International Inc. Revenue fell 5.7 percent, to $1.56 billion from $1.66 billion.
The world’s largest maker of automated teller machines is struggling to restore growth that deteriorated under AT&T Corp.’s ownership, and analysts say they’re skeptical it will ever fully recover.
These latest efforts to become profitable are the second in two years for the Dayton, Ohio-based company, which was spun off by AT&T in December.
“It’s been highly uncertain since the spinoff to see if they can make sales grow,” said Stephen Dube, analyst at Wasserstein Perella Securities in New York.
Investors also greeted its latest moves with skepticism, sending NCR’s shares down $2.31, to $35.62, on trading of 1.37 million, more than twice the three-month daily average.
