Dell to cut more jobs than earlier targeted

ROUND ROCK, Texas (Reuters) - Dell Inc DELL.O plans to cut more jobs than the 8,800 it earlier targeted and has already eliminated 5,500 positions, Chief Executive Michael Dell said on Thursday.

The CEO said the company will end the current year with lower operating expenses than in the previous year. Dell, speaking to analysts at company headquarters in Round Rock, Texas, said job cuts are continuing in the current quarter and will exceed the earlier target first announced in May 2007.

“We are not satisfied with the current state of affairs and are on a mission to fix it,” said Dell, 43. “Every area of the company is being pursued” for cost cuts.

Dell on Monday said it planned to reduce annual expenses by $3 billion annually by 2011. On Monday, Dell said the company had eliminated 3,200 jobs.

Reporting by Philipp Gollner, editing by Gerald E. McCormick