Dell to meet first quarter targets, cut jobs
NEW YORK, May 7 (Reuters) - Dell Computer Corp. (NasdaqNM:DELL - news), the No. 1 personal computer maker, said on Monday it would meet its previous targets for first quarter sales and earnings per share, and that it would eliminate 3,000 to 4,000 jobs over the next two quarters, as much as 10 percent of its work force.
``Slowing industry growth is both requiring Dell to resize its work force and allowing the company to streamline its organization after several years of rapid expansion,'' the company said.
Dell, which has said it would be ruthless on cost control, said it remained cautious on the balance of the year. The Round Rock, Texas-based computer maker has slashed computer prices to take market share from its rivals.
The computer maker said its sales for the first quarter, which ended Friday, met previous guidance of $8 billion in revenue and 17 cents in per-share earnings.
The company, will announce full first-quarter results and comment on second-quarter expectations, on May 17.
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