EMC to cull up to 1,000 jobs; shift focus to cloud
According to an 8K filing with the US Securities and Exchange Commission, EMC approved a restructuring plan that will see the enterprise IT giant shed up to 1,000 employees.The company is shedding jobs as it consolidates and federates various tech and service initiatives under its subsidiaries including VMware and Pivotal.The layoffs will cost the company between $100m and $200m, with a further $95m to $114m in cash payments. The restructuring plan should be completed by the end of the first quarter this year.