Storage giant EMC has angrily dismissed allegations by an ex-staffer that it was guilty of "improper book keeping".
The claims by Kenneth Todd Gresham follow a court case against him by EMC, which accused him of breaking a non-competition clause in his contract after he left the firm in March to join the US arm of Dublin-based rival Eurologic.
EMC management told a US court that Gresham's knowledge of trade secrets such as pricing strategy and negotiation tactics could cost the storage giant up to £690m ($1bn) in revenues "in the first year alone".
Before he left EMC in March, Gresham played a key role in setting up a deal with Dell, which vnunet.com reported was due to be unveiled last month.
His lawyers maintain that he left EMC on ethical and moral grounds in objection to improper practices in recording revenues, and have requested EMC to hand over documents relating to orders from Unisys that they say will prove their point.
EMC declined to comment on Gresham's allegations when contacted by vnunet.com.
An EMC spokesman had earlier told Reuters that the "wild" allegations had simply been made to "generate negative publicity for EMC", that EMC's accounts were regularly audited and that it had never been investigated by US regulator the Securities & Exchange Commission.
Separately, EMC revealed today (Wednesday) that it made a loss of around £652m ($945m) for its third quarter on sales of £828m ($1.2bn), 47 per cent lower than for the same period last year.
The figures include a £570m ($825m) pre-tax charge for the cost of excess inventory, staff cuts, plant cuts and investment write-offs. EMC said it would lay off 4000 employees, leaving it with a workforce of around 19,000 and not 21,000 as earlier estimates had indicated.
Mike Reuttgers, executive chairman at EMC, said: "This is a very difficult time for all businesses."
Joe Tucci, chief executive, added: "Even as the global economic environment continues to deteriorate, our strategy is clear. We will continue to invest more in R&D than any company in this category."
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