Tomahawk, WI 02/03/2014 (BasicsMedia) – EMC Corporation (NYSE:EMC)’s estimate for first quarter profit tracks analysts’ forecasts on account of the company’s new strategies to take charges bound to the a cut down in around 1,000 jobs. On Jan 30, the company reported that earnings per share, not including some items, will be 35 cents.

The world’s biggest maker of storage computers estimates that elimination of jobs will lead to charges between $100 million and $120 million. This amount excludes cash payments which in themselves will amount to something between $95 million and $114 million. EMC expects to complete all payments by the end of this quarter. In a statement, the company also shared its plans of ending 2014 with the same workforce or will add on a little more to the strength, as it had at the beginning of the year.

EMC Corporation (NYSE:EMC) did not mention the number of job cut downs the company is planning in the filing. Nevertheless, a spokeswoman for the company, Lesley Ogrodnick, informed in an e-mail that the deductions in jobs will be the same as they were last time. In 2013, in the first quarter, EMC had declared a plan whereby they were up for 1,004 job cuts.

Israeli investments

Earlier last week, EMC Corporation (NYSE:EMC) had announced plans of investing in advance technology in projects together with Lockheed Martin Corporation (NYSE:LMT). The two are to jointly further partnerships with the Israel Government along with the industry and academic institutions in the city Beersheba. In this endeavor, they are seeking an initial investment of $1 million. They intend to explore research and advances in projects in data analysis, cloud computing and cyber technologies. The company has acquired as many as nine companies in Israel. It has employed greater than 1,000 employees. Together with other investments in Israeli technologies as also the establishment of sales and research and development centers, EMC Corporation (NYSE:EMC) has invested billions of dollars in Israel. While Lockheed Martin will be focusing on aerospace and defence actions, the two through this collaboration aim at accelerating their R&D units.

Filling in gaps

The Massachusetts based company has always been seen looking for new means to generate profit from the storage market every time it faces a decline in purchases. This is specifically true when it comes to the high price end products. According to an analyst at Mizuho Securities USA Inc., Abhey Lamba, demand for the company’s cloud computing services and software is filling in the gap of the falling server sales. The software along with the storage service provides means to store data and programs on remote servers and the access to these is available via the Internet. Lamba, in a note dated Jan 20, suggested investing in the shares of EMC Corporation (NYSE:EMC).

DISCLAIMER: This content is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.