EMC Job Cuts Heavier Than First Thought

January 8th, 2007: After predicting that it would snip 1250 jobs last November, on Friday EMC confirmed that it would be cutting 1350 instead.

The layoffs come in the wake of the company’s three-year acquisition splurge as it moves to consolidate its operations. After picking up 21 companies over the last few years, EMC’s management see it is high-time to streamline, and will be spending between US$150 and $175 million to do so.

Originally announced in November, the restructuring plan will see the company fork out $130 million in employee entitlements, $15 million to end leases and terminate other contracts and around $30 million to write off superfluous assets.

Finalisation of employee terminations is expected to happen by the end of 2007.

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