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EMC posts loss, will cut about 1,350 jobs

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New York--Data storage company EMC Corp. on Thursday reported a preliminary quarterly loss and said it would cut 1,350 jobs, or about 7% of its work force, because of the drought in tech spending. EMC reported a preliminary third-quarter loss of 2 cents per share, compared with analyst expectations of a loss of 1 cent per share, according to Thomson First Call. That compares with a loss of 12 cents per share a year earlier. The company reported preliminary revenue of $1.25 billion, below analyst expectations of $1.4 billion, according to First Call. That was up from revenue of $1.21 billion a year earlier.
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