Word: dell
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...Dell says it did not undertake the cuts lightly. "It's one of the hardest, most gut-wrenching decisions you can make as a leader," Michael Dell told TIME. The layoffs are, he admits, "an admission that we screwed up" by overhiring. If there's a lesson, he says, it's that "when things heat up quite a bit, we should take some pause...
...company insists it tried to handle the layoffs as humanely as possible. Dell gave terminated workers their yearly bonuses early, and it handed out severance packages of two months' salary and two months of insurance coverage. Dell is also paying for job counseling...
...pain was mostly hers. Sullivan had initially resisted going to Dell. But when it recruited her, she was enticed by the high pay, the 401(k), the stock options and the heady work environment. During the boom, she says, she once hired 600 people in five weeks. Dell hired 16,000 workers the past two years alone...
With money tight, there was pressure to cut back on departments that didn't generate revenue--administration, marketing and recruiting. Dell was also pushing to have in-house managers do more of their own job interviewing, leaving less work for Sullivan. Echoing Michael Dell, Sullivan blames the company for not doing a better job of anticipating work-force needs. "This is the first time I heard about reducing numbers," she says. "The company was growing too fast, and we didn't take a long view and look at what...
...news didn't come as a complete shock. When Davidson started out, money ran freely. "The mood was, 'Gosh, Dell has oodles of loot,'" he says. "'Let's just spend, spend, spend.'" But last spring, when the dotcom bubble burst, everything changed. It was harder to get anything more than a bare-bones computer to work on, and training was halted for several months. "You could practically hear the screws being tightened," says Davidson...