Layoffs At Now-Private Dell May Hit Over 15,000 Staffers 287
schwit1 writes "Curious why Michael Dell was so eager to take the company he founded private? So he could do stuff like this without attracting too much attention. According to the Channel Register, the recently LBOed company is 'starting the expected huge layoff program this week, claiming numbers will be north of 15,000.' Of course, with a private sponsor in charge of the recently public company, the only thing that matters now is maximizing cash flows in an environment of falling PC sales, a commoditisation of the server market and a perceived need to better serve enterprises with their ever-increasing mobile and cloud-focused IT requirements — things that do not bode well for Dell's EBITDA — and the result is perhaps the largest axing round in the company's history. But at least the shareholders cashed out while they could."
I'm sure they're grateful for COBRA (Score:4, Funny)
At least they get health coverage for the next 18 months.
Re:I'm sure they're grateful for COBRA (Score:5, Funny)
At least they get health coverage for the next 18 months.
If they can afford it. The charming thing about COBRA is that you get hit paying 100% of premiums when you can least afford it. Heaven forbid that we become a bunch of commies like those Canucks. I've heard that even the snow is red up there.