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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (105301)5/29/2001 10:43:24 AM
From: Box-By-The-Riviera™  Read Replies (2) of 436258
 
well... seems to be some moths in the storage closet after all... finally the truth is told

HOPKINTON, MASS., May 29 (Reuters) - Data storage systems
maker EMC Corp. <EMC.N> on Tuesday said it will cut 1,100 jobs,
or 4 percent of its global work force, as it tries to reach
2001 revenue growth targets of 20 percent or more, grow market
share, and cut expenses.
The company said in a statement it would post a one cent
charge in the second quarter for the job cuts and redeployments
that are part of its efforts to increase its market share.
EMC said it still expects to invest $1 billion in research
and development during 2001. It is investing heavily in its
internal information technology infrastructure and looking for
areas where it can build talent in several strategic areas.
The job cuts, which will be implemented over the next
several weeks, will leave its total headcount at about the same
level as it was when the current year began.
The measures, which also include reducing use of
consultants and contractors and delaying facilities expansion,
target costs built in anticipation of higher 2001 revenue
growth before the impact of the slowing economy and the dot-com
shakeout had been felt.
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