Dell-EMC to Lay Off 2,000 – 3,000 US Workers after Requesting 5,000 H-1B Visas

Wolf Street ^ | 9 September 2016 | Wolf Richter

[Sgt_Schultze]

The ink was barely dry on Dell’s acquisition of EMC, the largest technology deal ever, valued at $67 billion when it was announced in October last year – and already the layoff rumors are oozing from the woodwork.

snip

But Dell needs to save some money, one way or the other. Dell’s corporate credit rating is at the upper end of junk. It’s loaded to the gills with debt, stemming from when it was taken private. Now the EMC deal has piled new debt on the company, including $20 billion of bonds it sold in May, followed by a $5-billion leveraged loan.

snip

[magua]

Well put.

[gawatchman]

I am an Field Service Engineer for EMC and an employee with them for the past 20 years. Almost the entire project management department and Implementation specialist positions are out of India now I fear I may be the next victim of this unabated H1B scam from this merger. I wish someone would bring this to Trump’s attention. I think this H1B scam has done more damage to our econonomy than anything else and I rarely here anyone talk about it. The only one on the radio that mentions it as a threat to our economy is Michael Savage.

[Neidermeyer]

“back in the day” EMC used to give me ulcers ,, HDA crashes on a regular basis ... I don’t know about their current products but they’ve historically been bottom of the barrel and would have been bankrupt if back in the 1980’s IBM hadn’t temporarily halted 3380 production (to fix a quality issue) giving them a foothold in enterprise computing.

[shotgun]

Don’t much about EMC anymore but I made a ton of money off of them before the Tech bubble burst. Go out right after the last split in 2000 (price went DOWN to mid $50’S) and the price had climbed back up around $100..

[shanover]

Government regulation and taxes strangles business in America. The American worker has become expendable. Close to 100 million out of work but my government says the unemployment rate is a steady 5%. Free-market economy and Friedman principles should win the day but something is terribly wrong with our country and how it functions. Government is the solution only if it gets out of the way at home and protects our interest abroad.

[Freedom56v2]

More ammunition for Trump

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Yup—Tech elites screwing the middle class again!!!

[servantboy777]

My corp has imported oodles of Indian workers over the last five years. This year, they probably doubled the number from the previous couple.

Un-freakin-believable.

[Robert DeLong]

For a desktop model: Titan C141 - Intel Core Skylake Series Compact Mini Tower Workstation PC up to 4 cores

[CodeToad]

Let’s not forget that Ted Cruz lobbied for another 325,000 H-1B foreign tech workers for this year because his bribers claimed they couldn’t get enough Americans.

[wally_bert]

Still a Dell shop here.

HP is not welcome.

[eyeamok]

Karl Denninger had an interesting approach to FIX these Problems

“Change US law so that in order to bring a suit in the United States court system related to copyright, patent or trademark infringement you must have substantially designed and built said thing in the United States, using legal US workers, including but not limited to actual assembly.

If not then you have to sue in wherever you did such work — you cannot sue in the United States.”

https://market-ticker.org/akcs-www?post=231485

My version would require at least 90% of the ENTIRE COMPANY and EMPLOYEES be PHYSICALLY LOCATED in the US, And ALL EMPLOYEES be Legal US Residents or Citizens, NO H1B in excess of 10% of your Workforce or NO COURTS FOR YOU.

[Sgt_Schultze]

This H1B crap keeps lower paid employees married to a specific company. While you can leverage your skill for money, If the job evaporates for an imported worker, he goes home. Leftists in Silicon Valley are in love with indentured-servitude too. I suppose the safe American jobs are on FedGov projects.

[Freedom56v2]

Karl Denninger had an interesting approach to FIX these Problems

“Change US law so that in order to bring a suit in the United States court system related to copyright, patent or trademark infringement you must have substantially designed and built said thing in the United States, using legal US workers, including but not limited to actual assembly.

If not then you have to sue in wherever you did such work — you cannot sue in the United States.”

https://market-ticker.org/akcs-www?post=231485

My version would require at least 90% of the ENTIRE COMPANY and EMPLOYEES be PHYSICALLY LOCATED in the US, And ALL EMPLOYEES be Legal US Residents or Citizens, NO H1B in excess of 10% of your Workforce or NO COURTS FOR YOU.

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Interesting!!

[ExSoldier]

Wasn't it DISNEY that not only laid off a ton of American workers in favor of the lower costing foreign batches like these requested but they made the guys getting laid off TRAIN their own replacements! That's the kind of crap Trump needs to address. Because the House of Mouse is a giant money making machine. They might as well open a branch office of the US Mint on site. Them wanting to squeeze the last few drops of blood from the skins of Americans trying to help them grow bigger and better is another example of corporate greed gone wild.

[jimmygrace]

EMC is in Mass and VMWare is in Cali, so thick could help Trump gain momentum in these solidly blue states.

[556x45]

ditto...

[Dr. Sivana]

For a desktop model: Titan C141 - Intel Core Skylake Series Compact Mini Tower Workstation PC up to 4 cores

Nothing against Titan, but they are more of a system assembler than a true computer company. That's fine for a SOHO or a small to medium business, but larger companies tend to need somebody who can send hundreds of identical boxes at every level, and a level of support for technical questions. Workstations are actually a small part of the expense.

The big money is in servers and SANs, switches, NASes, etc. That's how Cisco became a behemoth having next to nothing under that name (they do own Linksys) in the consumer sphere. That's why IBM spun off their desktop, laptop, and regular server business to Red Chinese Lenovo.

[Robert DeLong]

Yes it was.

[Sgt_Schultze]

I read Karl's suggestion, but eliminating patent rights in the US will impel similar action around the world. Think about how it would impact pharmaceuticals and electronics if our patents were ignored. Chinese factories already counterfeit thousands of high-end products - because they already have the dies and the supply-chain information.

Our factories' markets would shrink to within our borders without patent protections.

[Robert DeLong]

True that, I wasn’t thinking in terms of business.