Dell to lay off 10 percent of employees
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(InfoWorld) - Dell will lay off 10 percent of its 78,800 workers, in a continuing effort to improve profits as the company also completes an investigation of accounting fraud, it said Thursday. Dell will make the layoffs over the next 12 months, including workers throughout its geographic regions, customer segments, and job functions, the company said in a statement. The move is part of a corporate cost review spanningÂ product developmentÂ and procurement,Â service, and support delivery. While layoffs are difficult, "we know these actions are critical to our ability to deliver unprecedented value to our customers now and in the future," company CEO Michael Dell said in a written statement. The company also announced it made $759 million in profit for the first quarter of its 2008 fiscal year, down slightly from the $762 million it earned for the same quarter last year. Dell reported revenue of $14.6 billion and earnings of 34 centsÂ per share, both well above Wall Street expectations of $13.95 billion in revenue and 26 cents earnings per share, according to analysts polled by Thomson Financial. Despite itsÂ success in beating the financial forecast, Dell also said it had spent $46 million in the last quarter on expenses for the investigation into accounting and financial reporting. Dell began an internal study of its books because of questions raised in 2006 by the U.S. Securities and Exchange Commission (SEC). Dell blamed that situation for its decision to file only preliminary results Thursday, marking the fourth consecutive statement that the company has not filed an audited, official earnings account. Those missing statements have also forced Dell to fight to keep its stock listed on the Nasdaq exchange, which requires all public companies to file audited Form 10-K papers in order to be publicly traded. Dell has already won several extensions of a deadline to supply those numbers, and on May 4 it asked for even more time to meet the conditions.
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By Barbara Grady  Intel Corp. announced Tuesday it will cut 10,500 jobs -- roughly 10 percent of its work force -- over the next year in an effort to reduce costs and move more aggressively in the microprocessor market.
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Austin-based Cirrus Logic Inc. (Nasdaq: CRUS) plans to reduce expenses by laying off 7 percent of its workforce, primarily at its Austin and California facilities.
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2.0 - 8,000 = more money Dell will decimate its workforce over the next year, eliminating more than 8,000 jobs. The company released word of this restructuring as it dished out first quarter financial results that beat market expectations.â¦
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US Airways Group Inc. plans to eliminate "hundreds" of management and nonunion jobs and cut top executives' pay by between 5 and 10 percent.
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Computer Associates International Inc. (CA.N: Quote, Profile, Research) will lay off about 5 percent of its work force in an attempt to cut costs, the Wall Street Journal reported on Wednesday.
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SAN JOSE, Calif.  --  Chip-maker Intel Corp. said Tuesday it will eliminate 10,500 jobs  --  about 10 percent of its work force  --  through layoffs, attrition and the sale of underperforming business groups as part of a massive restructuring.
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FBR Capital Markets, the Arlington investment bank, said yesterday it would lay off 10 percent of its workforce "in response to adverse market conditions."
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Intel Corp.  said on  Tuesday it will cut a total of 10,500 workers, or 10 percent of  its workforce, by the middle of next year, as part of a  restructuring aimed at making the world's biggest chipmaker  more competitive.
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America Online, the world&#39;s largest Internet service provider, plans to lay off more than 700 employees early next month, or 5 percent of its US work force, to cut costs and meet financial goals, a source close to the company said on
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DALLAS -- Dell Inc. beat Wall Street predictions in its first-quarter earnings report but said it would eliminate 10 percent of its work force over the next year as part of a broad plan to trim costs and become more competitive with rivals.
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Chipmaker's efficiency plan could hit as many as 10 percent of employees in announcement expected Tuesday.
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Intel Corp. INTC.O said on   Tuesday it will cut a total of 10,500 workers, or 10 percent of   its workforce, by the middle of next year, as part of a   restructuring aimed at making the world's biggest chipmaker   more competitive.
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Sallie Mae, the giant student loan company, yesterday said it would lay off about 3 percent of its workforce to cut costs in the face of shrinking federal subsidies and other financial pressures.
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Delta will cut up to 10 percent of its work force over the next 18 months as part of a restructuring plan that the airline said would save $5 billion a year in costs by 2006.
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Workers at struggling Delta Air Lines will see their pay cut by 10 percent, their health care premiums go up and their vacation time trimmed under a cost-saving plan announced Tuesday.
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SBC Communications expects to cut 10,000 or more jobs by the end of next year through layoffs and attrition. That&#39;s about six percent of the San Antonio-based company&#39;s work force.