EMC (emc) said on Thursday that it plans to spend $250 million on a restructuring plan that includes an undisclosed number of job cuts.
The company, which makes data storage equipment, revealed plans in July to cut $850 million in annual spending, but it did not disclose the associated costs for the restructuring. Based on a regulatory filing made late on New Year’s Eve, we now know.
The $250 million will cover severance for employees laid off, and other associated costs. The job cuts should be mostly done by the end of the first quarter and completed by the end of the year, EMC said.
Here is the complete text of the filing:
WATCH: For more on the Dell-EMC deal
While all of this is going on, EMC is working to ensure that it’s planned $67 billion acquisition by Dell goes through. Dell CEO Michael Dell and EMC CEO Joe Tucci announced that deal, the largest ever in the tech hardware world, in early October. It is expected to close by the end of 2016.