EMC restructuring plan cuts 1,000 jobs

This is a summary. To read the whole story subscribe to

As part of a broad restructuring plan, the data storage giant EMC Corp. of Hopkinton will cut 1,004 positions, the company has revealed in a filing with the Securities and Exchange Commission.

The reductions are part of an $80 million initiative first announced earlier this year to retool much of the company, which has a global workforce of about 60,000, so that it will be better equipped to handle many of the fundamental changes in its marketplace, such as the shift to storing data to Internet cloud computing services and advancements in database analytics known as big data.

“EMC has had some concerns about staying relevant,” said Krista Macomber, an analyst with Technology Business Research Inc. in Hampton, N.H.

Full story for subscribers.

Get the full story with unlimited access to

Just 99 cents for four weeks.