Dell Financial Services in the US is up for sale, closing plants and cutting more than 10 per cent of its workers in an effort to save $3bn a year by 2011, according to Bloomberg News This follows news that the global computer-makers stocks slumped 20 per cent in the first quarter of 2008 and the announcement of a review of its financial services unit on March 31
Dell Financial Services in the US is up
for sale, closing plants and cutting more than 10 per cent of its
workers in an effort to save $3bn a year by 2011, according to Bloomberg News.
This follows news that the global computer-maker’s stocks slumped
20 per cent in the first quarter of 2008 and the announcement of a
review of its financial services unit on March 31.
Dell is already receiving bids for DFS, but Dell’s CEO, Michael
Dell, said that it will take up to six months to complete the
process, and did not identify any potential suitors.
DFS was originally formed in 1997 as a joint venture between CIT
and Dell, but Dell bought back its 30 per cent stake in the US
financial services business from CIT Group for $306m in December
2007.
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