Dell is planning on additional cost cutting measures including forced time off.
According to the Austin American-Statesman, CEO Michael Dell sent a memo outlining more cost cuts. The paper reports:
Dell said the company will consider a range of options to reduce its costs, including a hiring freeze, cutting contract employees, severance packages, the five-day furlough and, if necessary, more layoffs.The Wall Street Journal followed the American-Stateman's report. The company had planned to cut about 10 percent of its workforce and has largely met that goal. However, Wall Street has been clamoring for more. Toss in a slowdown that has hurt Dell's ability to project future quarters and the additional cost cutting shouldn't be surprising.