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EMC to axe 2,400

More job cuts...

By Will Sturgeon

Published: 21 September 2001 08:15 BST

Data storage giant EMC is to axe 2,400 jobs - 10 per cent of its total workforce.

The company is responding to the continued downturn by trying to cut operating costs and added to the malaise in the tech sector by saying it is unlikely to break even with its third quarter results and will most likely see a shortfall of around $1.8bn. EMC was unable to say how much the lay-offs will cost.

EMC has also announced the $50m acquisition of Luminate Software.

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