EMC to Cut 2,400 Jobs, Expects Quarterly Loss

EMC Corp., the largest maker of corporate computer-data storage systems, said it will cut about 2,400 jobs, or 10% of its work force, by year’s end to deal with a slump in sales that could cause it to have a third-quarter loss.

The company will take an unspecified third-quarter charge for the cuts and other efforts to trim costs. Company officials couldn’t immediately be reached to comment.

The Hopkinton, Mass.-based company said it is “highly unlikely” it will break even this quarter, saying that would require revenue of about $1.8 billion. The company didn’t elaborate. Analysts expected EMC to earn 1 cent a share on sales of $1.76 billion, according to Thomson Financial/ First Call.

EMC said in May that it was firing 1,100 employees, or 4% of its work force, to pare costs as companies reined in spending on computer hardware and software.

The company’s shares closed up 2 cents at $12.62 on the New York Stock Exchange before the job cuts were announced.