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Dell Inc. announced plans Thursday to cut 8,800 jobs — about a tenth of its worldwide workforce — over the next year.
The world's second biggest computer maker said the workforce reductions are aimed at cutting costs in a very competitive environment.
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Dell said the cuts "will vary across geographic regions, customer segments, and functions, and will reflect business considerations as well as local legal requirements."
News of the job cuts came as Dell released preliminary first-quarter financial statements that showed the company's sales and profits beat Wall Street expectations.
Dell made $759 million US in Q1 (34 cents a share), down slightly from the $762 million US (33 cents a share) in the same quarter a year ago. Analysts had expected Dell to earn 26 cents US a share.
Revenue in the quarter rose three per cent to $14.6 billion US, handily beating the analysts' consensus estimate of $13.95 billion US.
That helped to power Dell shares to a five per cent gain in after-hours trading.
For the second quarter, the company said operating margins would be "under pressure" in what it called a "seasonally slower quarter."
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