DST Systems to Cut 760 Jobs

DST Systems Inc. will cut 760 jobs across all domestic and international business units to save $67 million a year in pre-tax operating costs. DST has also frozen hiring and management salaries. Based in Kansas City, DST provides information processing and computer software services and products. At the end of 2008 DST had 10,900 employees, with 7,600 in financial services and 3,300 in its Output Solutions unit.

On Monday DST reported 2009 revenue of $2.22 billion, down 3% from 2008, and earnings of $241.6 million, compared to $242.9 million the year before. A DST subsidiary in Albany, New York also announced it would cut 53 jobs at its facility.