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BUSINESS
August 31, 2000
Financially struggling Mynd Corp., a maker of insurance software that is awaiting government approval of a proposed buyout by El Segundo-based Computer Sciences Corp., said it would cut 300 jobs. About 200 of the cuts will be made at the company's Blythewood, S.C., headquarters, which has about 2,000 employees. Computer Sciences' plan to acquire Mynd for $16 a share has been held up by a review by the Federal Trade Commission. Shares in Mynd, formerly Policy Management Systems Corp.
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BUSINESS
August 31, 2000
Financially struggling Mynd Corp., a maker of insurance software that is awaiting government approval of a proposed buyout by El Segundo-based Computer Sciences Corp., said it would cut 300 jobs. About 200 of the cuts will be made at the company's Blythewood, S.C., headquarters, which has about 2,000 employees. Computer Sciences' plan to acquire Mynd for $16 a share has been held up by a review by the Federal Trade Commission. Shares in Mynd, formerly Policy Management Systems Corp.
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BUSINESS
December 21, 2000 | Bloomberg News
Computer Sciences Corp. must divest some of Mynd Corp.'s claims-assessment assets to win Federal Trade Commission approval for its $568-million proposed purchase of the financial-services and software company. The FTC said selling Mynd's claims-assessment software and other intellectual property would settle charges that Computer Sciences' acquisition will reduce competition. Shares of El Segundo-based Computer Sciences fell $3.50 to close at $66.19, while Blythewood, S.C.
BUSINESS
March 17, 2001 | From Times Staff and Wire Reports
Slumping demand for technology and computer services forced Computer Sciences Corp. on Friday to slash its profit forecast 60% and announce as many as 900 layoffs, sending the company's shares tumbling to a three-year low. CSC's stock plunged 40%, or $21.40, to $32.70 on the New York Stock Exchange. The downturn erased about $3.64 billion in market value for the El Segundo computer services firm.
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