Search
 

EMC Lays Off 1,100; Construction to Continue For Now

HOPKINGTON, MA-EMC Corp., the data storage equipment maker, lays off 1,100 people due to a reduced growth rate. The company is in the process of a number of building projects in the state which, according to company officials, will continue for now.

By Naomi Grossman | Updated on May 31, 2001

HOPKINGTON, MA-EMC Corp., the seemingly invincible data storage equipment maker, will lay off 1,100 people or about 5% of its work force. About 300 of those job losses will be in this state spread throughout the company’s facilities here and in Westborough, Southborough, Milford and Franklin.

“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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.