EMC to ditch another 4,000 workers
PrintRecords first quarterly loss in 12 years
Posted in Business, 17th October 2001 14:48 GMT
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Fresh from getting ousted by IBM at its flagship customer Wal-Mart, EMC has reported its first quarterly loss for 12 years. And it's going to can about 4,000 jobs, which will leave it with around 19,000 workers by the end of the year.
Sales have free-fallen 47 per cent in the quarter ended 30 September, to $1.21 billion. Losses for the period were $945 million. In the same period a year earlier, the company reported a net income of $458.2 million, on sales of $2.28 billion.
EMC announced its refreshed range of Symmetrix Enterprise Storage systems on 10 September. The next day no one cared.
"This is a very difficult time for nearly all businesses," said Mike Ruettgers, EMC executive chairman. "Like many technology companies, we normally complete most of our business in the third month of every quarter."
The company announced it was showing 2,400 employees the door in September. ®
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