Dell Lays Off 8,000; 1Q Earnings Sag

Dell Announces More Than 8,000 in Layoffs as Slight Drop in 1Q Earnings Beats Estimates

Yahoo Finance

By Matt Slagle, AP Technology Writer, Friday June 1, 12:19 am ET

DALLAS (AP) -- Dell Inc. beat Wall Street predictions in its first-quarter earnings report but said it would eliminate 10 percent of its work force over the next year as part of a broad plan to trim costs and become more competitive with rivals.

The computer maker said it earned $759 million, or 34 cents per share, in the three months ended May 4, down slightly from $762 million, or 33 cents per share, in the year-ago period. Sales rose nearly 1 percent to $14.6 billion.

The results beat analysts' predicted earnings of 26 cents per share on sales $13.95 billion, according to a poll by Thomson Financial.

Read More ....