Dell Lays Off 8,000; 1Q Earnings Sag
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DALLAS -- Dell Inc. beat Wall Street predictions in its first-quarter earnings report but said it would eliminate 10 percent of its work force over the next year as part of a broad plan to trim costs and become more competitive with rivals.
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U.S. stocks fell on Monday, with the Nasdaq off 1 percent, as worries about the sustainability of technology companies' profits offset earlier gains after at least $82 billion in corporate takeovers were announced.
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Dell Inc. DELL.O said on Thursday it   received a delisting notice because it was late in filing a   quarterly financial report and plans to request a hearing   before a Nasdaq panel.
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By MATT SLAGLE  DALLAS - Dell Inc. beat Wall Street predictions in its first-quarter earnings report but said it would eliminate 10 percent of its work force over the next year as part of a broad plan to trim costs and become more competitive with rivals.
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By Andrew D. Smith, The Dallas Morning News  Feb. 21--Analysts expect disappointing numbers when Dell Inc. announces earnings next week, but they see nothing disappointing about the new hires and initiatives at the company.
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Dell will lay off 10 percent of its 88,100 workers, in a continuing effort to improve profits as the company also completes an investigation of accounting fraud, it said Thursday.
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In a move possibly intended to shift focus to its efforts in retail stores, computer manufacturer Dell Inc. said that it will shut down its retail kiosks in about 140 malls nationwide.
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Dell's fourth-quarter earnings beat Wall Street's estimates, even though the company's profits dropped 33%.
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We're delistening Accounting laggard Dell has received a delisting warning from Nasdaq officials.â¦
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Dell Inc.  is leaving the LCD  television business to focus on its core PC products amid an  ongoing company overhaul by founder Michael Dell, Taiwan media  reported on Thursday.
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The electronics retailer reported a $54.6 million first-quarter loss and withdrew its financial guidance for fiscal 2008 as it cut jobs and revamped.
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DALLAS ---- Dell 's fourth--quarter profits plunged 33 percent because of weak sales of laptops and notebooks, and the personal computer maker still faces an unresolved federal accounting probe, customer service complaints, several shareholder lawsuits and stiff competition from rivals.
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Plus: HP profit gains on cost cuts, cheaper components...Dell execs skewed numbers to meet earnings targets...Applied Materials posts lower quarterly profit.
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Dell also announced that it would lay off 10 percent of its work force over the next year in order to reduce costs.
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Dell announced early this morning it has received a notice from the NASDAQ stock exchange threatening the company with a possible de-listing if it continues to delay the filing of its quarterly 10-Q report.  Dell remains the target of an SEC probe, and may have to restate its earnings back several years.
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(InfoWorld) - Dell will lay off 10 percent of its 78,800 workers, in a continuing effort to improve profits as the company also completes an investigation of accounting fraud, it said Thursday. Dell will make the layoffs over the next 12 months, including workers throughout its geographic regions, customer segments, and job functions, the company said in a statement. The move is part of a corporate cost review spanningÂ product developmentÂ and procurement,Â service, and support delivery. While layoffs are difficult, "we know these actions are critical to our ability to deliver unprecedented value to our customers now and in the future," company CEO Michael Dell said in a written statement. The company also announced it made $759 million in profit for the first quarter of its 2008 fiscal year, down slightly from the $762 million it earned for the same quarter last year. Dell reported revenue of $14.6 billion and earnings of 34 centsÂ per share, both well above Wall Street expectations of $13.95 billion in revenue and 26 cents earnings per share, according to analysts polled by Thomson Financial. Despite itsÂ success in beating the financial forecast, Dell also said it had spent $46 million in the last quarter on expenses for the investigation into accounting and financial reporting. Dell began an internal study of its books because of questions raised in 2006 by the U.S. Securities and Exchange Commission (SEC). Dell blamed that situation for its decision to file only preliminary results Thursday, marking the fourth consecutive statement that the company has not filed an audited, official earnings account. Those missing statements have also forced Dell to fight to keep its stock listed on the Nasdaq exchange, which requires all public companies to file audited Form 10-K papers in order to be publicly traded. Dell has already won several extensions of a deadline to supply those numbers, and on May 4 it asked for even more time to meet the conditions.
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Dell (Nasdaq: DELL) is giving its corporate customers a break, announcing price cuts on hardware ranging from enterprise servers and workstations, to desktops and notebooks for large business and institutional customers.