More on EMC layoffs

There's a bit more information out on EMC's layoffs courtesy of Internet News' Judy Motti. She writes that:

"CEO Joe Tucci and senior executives are taking a pay cut and also foregoing bonuses for 2009."

Is this a big deal? It's certainly an appropriate move, especially if Tucci and the crew don't give themselves enhanced options packages like 43% of the CEOs who took paycuts in 2008 did, ( this according to Forbes.) One interesting thing to note is that last year Tucci earned more than Steve Jobs.

The other thing to note, this according to Motti, is that EMC is freezing employee pay, as well , with no salary or bonus increases coming in the near future.

EMC's actions worry me a bit, exactly what kind of year are they expecting? Is Tucci going to stop his shopping sprees? Or does he want to keep money in reserve so that he can buy more? Maybe it's cheaper to buy a company like XHive than to develop similar technologies in-house . The Documentum community certainly isn't complaining about that transaction, but they don't want to lose their jobs (or watch their colleagues lose their jobs) either. What's good for the company and its stockholders isn't always good for employees.

Speaking of stockholders, Chuck Hollis says that, despite the obvious challenges, he expects EMC to grow and thrive during 2009. I'm looking forward to seeing him make good on that promise.