Plans to ‘thin the ranks’ at EMC

THE world’s biggest maker of data storage systems, EMC Corp, has said fourth-quarter profits fell 54% due to the costs of cutting 1,000 staff and of return company income from overseas.

EMC sales this year may top analysts’ estimates.

Net income declined to $148.3 million (€120.8m), or 6 cents per share, from $320.6m, or 13 cents, in 20004, the company said in a statement yesterday.