Amdocs Limited Announces Measures to Improve Competitiveness and Support Profitability.Business Editors ST. LOUIS--(BUSINESS WIRE)--Nov. 27, 2002 Amdocs Limited (NYSE NYSE See: New York Stock Exchange : DOX DOX Design of Experiments DOX Direct Operational Exchange ) announced today a series of measures designed to reduce costs and improve productivity. As part of this plan, Amdocs will reduce its workforce by approximately 400 positions out of a total workforce of 9,000 employees. The reductions will be from different centers around the world. In addition, the company will implement other cost reduction measures, including travel cuts and reductions in other discretionary costs. Dov Baharav, Chief Executive Officer of Amdocs Management Limited, said, "We continue to act decisively to improve competitiveness. We have reviewed our operations very carefully in order to maximize efficiency, while not compromising service to our customers. With our commitment to shareholder value, our objective is to ensure profitability levels in a very competitive market." About Amdocs Amdocs is the world's leading provider of billing and CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. to the communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. . With a 20-year track record of delivery excellence, our products empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems major communications operators around the globe. We enable rapid time-to-market for next generation voice, content, commerce and application services See ASP and Web services. , while enhancing subscriber loyalty and lowering total cost of ownership. We offer our customers flexible modes of delivery -- products, solutions and outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. . For more information, visit our web site at www.amdocs.com This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined under the Securities Act of 1933, as amended, including statements about Amdocs' growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs' ability to grow in the mobile, wireline and IP business segments, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F filed December 27, 2001 and our Form 6-K filed on August 15, 2002. |
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