EMC Corporation Announced Layoffs To Reduce Annual Costs By $850 Million

The Massachusetts based company, EMC Corporation announced layoffs this week, but they have not yet declaired the specific number of the affected workers, this is expected to be completed by the end of first quarter of 2016, however when this shocking news landed on some of its employees, they begun trembling and cursing the new year.

Check also: Dell to acquire EMC for $67 billion

The global computer data storage company which has a market capitalization of almost $50 billion and 50,000 employees agreed in October 2015 that it will be acquired by Dell, Inc for $67 billion deal.

The Dell – EMC deal could make Dell to be the world’s third largest personal computer manufacturer.

The company will continue to operate as separate legal entity while its under going work-force reduction until its Dell acquisition deal is completed, the main reason as to why the global computer storage company confirmed its reduction in work-force is because its profits declined a lot recently.

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