Summary Box: Dell shedding $2B in belt tightening

AP News
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Posted: Jun 13, 2012 4:25 PM
Summary Box: Dell shedding $2B in belt tightening

SLIMMING DOWN: Computer maker Dell Inc. plans to reduce its expenses by $2 billion during the next three years as it tries to make more money in more fertile fields of technology.

FAMILIAR RING: Dell outlined its austerity measures Wednesday, less than a month after rival Hewlett-Packard Co. announced plans to reduce its annual expenses by $3 billion to $3.5 billion by October 2014. HP plans to eliminate 27,000 jobs as part of its cost cutting. Dell didn't say whether it will lay off workers.

HAPPY SHAREHOLDERS: Investors applauded the news as Dell's stock rose 2.6 percent.