Unisys Corp., Blue Bell, Pa., has transferred the assets of its Dutch subsidiary’s primary pension plan to De Nationale APF, a multiemployer pension plan in the Netherlands.
The transfer eliminates $550 million in pension liabilities from the information technology solutions company's balance sheet, Unisys spokesman Tony Buglione said in an email.
The transfer was effective May 1. It is the latest move in a long-term plan for Unisys to reduce its global pension liabilities by $1.2 billion.
"We look forward to achieving this goal, and we continue to consider and pursue additional actions to further reduce potential volatility and costs associated with our pension obligations," Unisys Chief Financial Officer Mike Thomson, said Wednesday in a news release.