Dell to cut 2,000-3,000 jobs as EMC deal closes: Bloomberg

September 8, 2016 2:26 PM EDT

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

(Reuters) - Dell Technologies, which completed the acquisition of data storage company EMC Corp on Wednesday, will cut 2,000-3,000 jobs, Bloomberg reported.

Most of the job cuts will be in the United States, Bloomberg reported on Thursday, citing people familiar with the matter. (http://bloom.bg/2c8Q5V4)

The layoffs will be mainly in supply chain, marketing and general and administrative divisions, Bloomberg said, adding that the combined company has 140,000 employees.

"As is common with deals of this size, there will be some overlaps we will need to manage and where some employee reduction will occur," Dell spokesman Dave Farmer said. He, however, declined to comment specifically on the report.

Dell, which was taken private by founder Michael Dell along with private equity firm Silver Lake Management in 2013, agreed to buy EMC for $67 billion in October last year.

(Reporting by Rishika Sadam in Bengaluru; Editing by Kirti Pandey)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Related Entities

Michael Dell, Layoffs, Definitive Agreement

Add Your Comment