Michael Dell is confused. He must wander the streets of Austin with his mind in a haze.
Only recently Dell said his company is doing super in the Middle East. He said that China was the "engine" for the PC firm’s expansion. His world has gotten so good, it is hard to believe that there is anything wrong with the economy
Dell either changed his mind in a few short weeks or Dell’s business (DELL) went to hell in a hurry. He means to take the troubles out on his employees.
According to The Wall Street Journal, "The company is imposing a hiring freeze, offering employees voluntary buyouts and asking workers to take one to five days off without pay."
The PC company has $8 billion in the bank and made over $700 million last quarter.
The time off without pay is an especially nice touch. There is a veiled threat in there somewhere. If you won’t go away and save us money, we might just have to fire you. Dell did not say that, but the math of the typical big company P&Ls lets everyone know it is true. The expense cuts have to come from somewhere
Michael Dell, who is by most counts a billionaire, and had total compensation in excess of $2 million is not taking a pay cut. Why should he? It’s his company.
Douglas A. McIntyre