Menu
EMC to lay off 2,400

EMC to lay off 2,400

EMC said it plans to lay off 2,400 workers from its Information Infrastructure business.

Despite expecting to meet revenue estimates for its fourth quarter, EMC said on Wednesday that it is instituting a restructuring program that includes laying off 2,400 people.

The restructuring is aimed at streamlining costs associated with EMC's Information Infrastructure business and will not affect VMware, EMC's virtualization subsidiary, the company said.

The 2,400 people represent about 7 percent of the Information Infrastructure business.

The announcement came as EMC reported that it expects fourth-quarter 2008 revenue to reach US$4 billion, up 4 percent over the same quarter in the previous year. EMC was able to achieve growth despite the economic downturn because virtualization products and information infrastructure are at or near the top of enterprise IT spending priorities, the company said in a statement.

The restructuring plan will also include consolidation of back-office functions and offices, reduction of management layers, decreased spending on contractors and travel, and a rebalance of investments toward higher growth products and markets.

EMC joins a long list of technology companies that have announced layoffs over the past month as the economy continues to deteriorate. The company expects to reveal more details of its restructuring plan in its fourth-quarter earnings announcement, scheduled for Jan. 27.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags emcjob cuts

Featured

Slideshows

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Meet the winners of the 2020 Reseller News Innovation Awards

Meet the winners of the 2020 Reseller News Innovation Awards

Reseller News honoured the standout players of the New Zealand channel in front of more than 500 technology leaders in Auckland on 21 October, recognising the achievements of top partners, start-ups, vendors, distributors and individuals.

Meet the winners of the 2020 Reseller News Innovation Awards
Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Show Comments