Dell execs leave as company restructures

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logo62 In a major shakeup since founder Michael Dell returned to the no. 2 PC maker, two Dell executives have announced that they will leave the company as it undergoes a restructure. Mike Cannon, president of Global Operations, and Mark Jarvis, marketing chief, were brought in to help the company to regain it status as the no. 1 PC maker after falling behind rival HP.

The restructure, which includes slashing 8,000 jobs, has come after its stock had dived more than 60 percent in 2008, during the economic crisis. Both executives were signed up by Michael Dell after wooing them with sign-on bonuses of $250,000 for Jarvis and $2 million for Cannon.

Dell has asked employees to take a voluntary unpaid vacation for five days to lower costs.

However, Shannon Cross, from Cross Research, told Reuters that it expects the company to announce more layoffs after it is struggling to keep sales up.