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Politics : Formerly About Applied Materials

AMAT 301.88

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Jan 14 3:59 PM EST

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To: BWAC who wrote (52694)	9/20/2001 7:18:06 PM
From: Proud_Infidel	Read Replies (1) of 70976

EMC warns: EMC says will cut jobs, expects loss in Q3 HOPKINTON, Mass., Sept 20 (Reuters) - Computer storage giant EMC Corp. (NYSE:EMC - news) said on Thursday it would cut more than 2,000 jobs this year and probably report a third quarter loss as a technology spending recession widened. EMC said it expected to cut its workforce to 21,000 by year-end from 23,400 currently and take a charge of undetermined size in the third quarter. ``At this point in time, it is highly unlikely that EMC will break even in our fiscal third quarter. At our current expense run rate, breaking even would require approximately $1.8 billion in revenue this quarter,'' Joe Tucci, EMC's president and chief executive, said in a statement.

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