"Dude, you're getting a pink slip!"
Dallas, Texas-based Dell Computers has announced it will lay off more than 8,000 employees over the next year as part of an ongoing restructuring. Losing a job is a leading cause of filing bankruptcy.
Dell claims it needs to lay off thousands employees due to falling earnings. Dell said it earned $759 million (34 cents per share) in the first quarter of this year, compared with $762 million (33 cents per share) during the same quarter last year.
Dell has also announced it will abandon its long-standing business model of only selling machines direct to customers. Dell plans to start selling computers at Wal-Mart stores.