"The economy has slowed our growth rate," Mark Fredrickson, vice president of corporate communications for EMC, tells GlobeSt.com, explaining the reason for the staff reduction. "We are still growing at 20% but our rate of revenue rate growth gas been slowed." Fredrickson notes that the company originally anticipated a 35% growth rate for this year.

EMC is in the process of developing a number of building projects throughout the state that Fredrickson says for now will continue. The company is building a new building in Franklin and is building two new buildings here and is expanding another two. According to Fredrickson, those projects are near completion. In Bellingham, Westborough and Southborough building projects are in the permitting phase.

Specifics on those projects are not yet available. Fredrickson emphasizes though, that the company does "have the flexibility of delaying construction on any project that hasn't broken ground yet." That would depend, he adds, on the pace of hiring.