Dell will reportedly cut up to 3,000 jobs now that its mega-merger with EMC is done
The $67 billion acquisition of EMC by Dell closed on Wednesday. It's the largest acquisition in tech history, and created a new tech company with 140,000 employees.
Now that EMC is part of Dell, Dell hopes to find cost savings of about $1.7 billion in the first 18 months, Bloomberg reports. However, these sources reaffirmed what Michael Dell has been publicly saying, that the company is far more focused on increasing sales than cost-cutting.Dell has always kept a tight rein on its costs. It came to prominence in the PC and computer server industries by squeezing cost out of its supply chain.
Such huge mergers, especially when financed with a lot of debt like this deal has been, often does mean job cuts, as the two companies merge and find overlapping positions.
Dell has not yet responded to Business Insider's request for comment. It declined comment to Bloomberg.