EMC says it will cut 2,400 jobs. The Hopkinton, Mass.-based data storage company says about a quarter of those cuts will be in Massachusetts. WBUR's Abigail Beshkin reports.
The job cuts come even as the company says it expects fourth-quarter 2008 revenues to reach a record $4 billion.
But EMC officials say they're bracing for the worsening economy.
That's not an unusual move, says the Massachusetts High Technology Council's Chris Anderson. He says companies learned a lesson when the Internet bubble burst, namely:
ANDERSON: To moderate their workforce today, in hopes that even as the economy continues to slow — that when there is a recovery that begins — they'll be better positioned for growth and for market advances.
EMC, which employs about 9,000 in Massachusetts, expects to save half-a-billion dollars by the end of 2010.
For WBUR, I'm Abigail Beshkin.
This program aired on January 8, 2009. The audio for this program is not available.