Assuming you know there are only four possible status values, and that you want the latest date for any cust_id/status combination:
DECLARE @table_2 TABLE(Cust_id INT, status INT, date_changed DATE);
INSERT @table_2 VALUES
(1,1,SYSDATETIME()),
(2,1,SYSDATETIME()),
(3,1,DATEADD(DAY, 1, SYSDATETIME())),
(3,1,SYSDATETIME()),
(1,2,SYSDATETIME());
SELECT cust_id, 
    status1 = [1], status2 = [2], 
    status3 = [3], status4 = [4]
FROM 
(
  SELECT cust_id, status, date_changed
  FROM @table_2
) AS t
PIVOT (MAX(date_changed) 
FOR [status] IN ([1],[2],[3],[4])) AS p
ORDER BY cust_id;
Results:
cust_id status1    status2    status3 status4
------- ---------- ---------- ------- -------
1       2012-06-10 2012-06-10 NULL    NULL
2       2012-06-10 NULL       NULL    NULL
3       2012-06-11 NULL       NULL    NULL
That is the standard way to do this. There may be better approaches depending on your goals and/or whether you know the number of potential status values beforehand or want to only show columns for those status values that exist. If any of those situations apply, please update the question.