EMC today warned it would lay off more than 1,000 staff amid general cost cutting at the storage giant.
EMC plans to chop its workforce by around four per cent, or 1,100 people, "over the course of the next several weeks".
The move will leave the company with the same number of employees it had at the start of the year.
In an email sent to staff, EMC president Joe Tucci stated: "It's hard to pick up a newspaper or turn on the TV without hearing new speculation about the extent of the economy's problems and the prognosis for recovery."
He continues: "After the hypergrowth of the dotcom bubble, nearly every major IT company has been forced by a slowing economy to reduce its workforce in recent months," citing Intel (5,000), Dell (4,000), HP (nearly 5,000) and Compaq (7,000) as a few examples.
In addition to the layoffs, the company said several hundred more staff would be "re-deployed into quota-carrying sales positions".
"Everyone will be treated with dignity," it adds.
For those remaining, there will be cuts to the travel budget and delays to certain "facilities expansion". The company also plans to use less consultants and contractors.
Meanwhile, Tucci remained optimistic about EMC's future. "Regardless of the economic hesitation, the opportunity in front of us is still the most promising in all of IT," he states.
"I wouldn't trade places with any other company." ®