Item 8.01. Other Events

On December 22, 2008, Unisys Corporation announced that the company was taking actions expected to reduce its annual cost structure by more than $225 million. Initial cost-reduction actions are focused on reducing SG&A expenses and controlling or reducing labor costs. These actions to reduce costs include reductions in third-party expenses, facility consolidations, headcount reductions of approximately 1,300 positions worldwide and a suspension of company matching contributions to the U.S. 401(k) plan, which had been costing about $50 million annually. The headcount reductions have begun and will continue into 2009. Along with the above items, the company also plans to forgo 2009 salary increases in most of the company's markets.

The company also announced that it expects to take a fourth-quarter 2008 restructuring charge in the $80 to $85 million range. The total cash requirements related to the charge are expected to be about $70 to $75 million. The charge will not require an acceleration of cash requirements, as severance and facility charges will be paid out over severance and lease periods.

The company's press release is attached as Exhibit 99 hereto.