7,000 Dell employees to be cut amid high revenues
updated 06:10 pm EDT, Thu May 31, 2007
7,000 Dell employees cut
Dell is planning to lay off 10 percent of its workforce -- approximately 7,000 people -- despite having just stated Q1 2007 profits of $947 million, earning stockholders $0.34 per share. The employees will be cut over the course of the next year, and in numerous regions and roles, though there is no indication of whether any managers will lose jobs or pay. The primary reason cited for the layoffs is "competitiveness," which the BBC News reports is related to the increasing sales of Hewlett-Packard. Dell recently signed a pact with Wal-Mart, but it has had numerous other troubles in the past year, most recently a fraud lawsuit filed by New York's Attorney General.
