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5 Things To Know About Dell Technologies' $416M Job-Cutting Program
Clearing The Runway For Growth
Dell Technologies is in the midst of a massive effort to eliminate overlapping positions and complete an aggressive cost-cutting program begun by EMC more than a year ago.
As of Feb. 3, the Round Rock, Texas, IT giant had put $416 million in reserve to pay severance benefits. A year ago, prior to Dell's $58 billion acquisition of EMC, the company held $26 million in reserve for the same purpose, according to a U.S. Securities and Exchange Commission filing.
While overlap in products and personnel hasn't been a major problem for the company, according to executives, creating the largest, privately held IT firm in the world can't be done without cutting some duplicate positions. The company is confident that its growth prospects will result in overall job growth over time.