EMC said Thursday it would swallow a charge of up to $150 million on the restructuring.
The company saw a boost from majority-owned VMware, which reported solid earnings this week. But EMC fell short of analyst expectations as it buckles down for a rocky few fiscal quarters on a strong U.S. dollar and a shift to long-term revenue collection.
The company reported earnings of 69 cents per share, up 15 percent on the same quarter a year earlier, on revenue of $7 billion.
Wall Street was expecting 68 cents per share on revenue of $7.1 billion.
EMC cited a stronger dollar for its muted outlook, saying it expects around $1.98 per share on revenue of $26.1 billion -- far below Wall Street estimates.
Average estimates from analysts pegged the company to hit at least $2.13 per share and $26.2 billion in revenue.
EMC shares were up slightly in pre-market trading Thursday.