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 EMC fires two managers after internal investigation2/5/2002 10:02:00 AM BOSTON, Feb 5 (Reuters) - EMC Corp., the world's largest maker of data-storage systems, on Tuesday confirmed it fired two managers after investigating the business practices at its professional services branch in Chicago. EMC) on Friday terminated Manish Shah, a regional director of professional services, and Robert Waltz, a business analyst who worked for Shah, said EMC spokesman Mark Fredrickson. Citing company policy, Fredrickson declined to give a reason for the terminations, but said the matter was small, isolated and involved less than $1 million. He said the case would not have a material effect on EMC, whose 2001 revenue totaled about $7 billion. The Wall Street Journal reported on Tuesday that EMC's internal investigation found irregularities in the booking of customer orders. The Journal said EMC discovered that certain employees were meeting their sales quotas by falsifying customer signatures on service orders performed by an EMC subcontractor. Fredrickson declined to comment on the Journal story. The terminations come after EMC endured a rocky ride in 2001 as stiffer competition and a downturn in spending on data-storage hardware and software triggered a price war in the industry. EMC's sales and stock price tumbled as the company moved to slash spending and reduce its work force. Fredrickson downplayed the investigation in Chicago, saying there won't be any overarching implications on EMC. "It was an extremely small matter. The case is closed as far as we are concerned," Fredrickson told Reuters. He said EMC's investigation took place over the past few months. Shah joined EMC in January 2001. Waltz started work at EMC in October 1999, Fredrickson said. REUTERS Rtr 10:02 02-05-02
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