Close
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News
    • Storage

    EMC Plans to Lay Off 1,000

    By
    Dennis Fisher
    -
    January 6, 2006
    Share
    Facebook
    Twitter
    Linkedin

      Storage market leader EMC Corp. said late Friday that it plans to cut 1,000 jobs and take a charge of about $80 million, but is also raising its revenue target for the fourth quarter.

      The layoffs are intended to eliminate redundant job functions, but company officials said that they still expect to see an overall increase in the number of employees in 2006.

      The $80 million charge is related to severance costs and other charges stemming from the layoffs. The company has almost 23,000 employees currently.

      EMC will report its fourth-quarter earnings on Jan 24, and officials on Friday raised their revenue estimate for the quarter to between $2.70 billion and $2.71 billion. For fiscal 2005, the Hopkinton, Mass., company expects to report revenue of about $9.65 billion.

      /zimages/1/28571.gifClick here to read about EMCs acquisition of Acxiom.

      EMC spent much of 2005 digesting several acquisitions—including the $275 million purchase of Captiva Software Corp.—and has also been affected by storage prices that have leveled off, and in some cases dropped of late.

      Company officials acknowledged the challenges, but said they were prepared to meet them.

      “The best companies preserve their leadership by looking out to the horizon and making adjustments today to position themselves for shifts in customers expectations and market dynamics,” EMC President and CEO Joe Tucci said in a statement.

      “Our business model and organizational structure continue to evolve as we integrate new acquisitions, expand into new markets and address more of our customers information infrastructure needs.”

      The job cuts will be complete by the end of 2006, the company said.

      Despite the hurdles, the fourth quarter of 2005 will be EMCs tenth consecutive quarter of double-digit revenue growth.

      The layoffs come a day after EMC announced a deal to buy grid computing heavyweight Acxiom Corp. for $30 million.

      /zimages/1/28571.gifCheck out eWEEK.coms for the latest news, reviews and analysis on enterprise and small business storage hardware and software.

      Dennis Fisher
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.

      MOST POPULAR ARTICLES

      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Applications

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      Applications

      Kyndryl’s Nicolas Sekkaki on Handling AI and...

      James Maguire - November 9, 2022 0
      I spoke with Nicolas Sekkaki, Group Practice Leader for Applications, Data and AI at Kyndryl, about how companies can boost both their AI and...
      Read more
      Cloud

      IGEL CEO Jed Ayres on Edge and...

      James Maguire - June 14, 2022 0
      I spoke with Jed Ayres, CEO of IGEL, about the endpoint sector, and an open source OS for the cloud; we also spoke about...
      Read more
      Careers

      SThree’s Sunny Ackerman on Tech Hiring Trends

      James Maguire - June 9, 2022 0
      I spoke with Sunny Ackerman, President/Americas for tech recruiter SThree, about the tight labor market in the tech sector, and much needed efforts to...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2022 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×