msnbc.com news services
updated 4/3/2008 11:13:43 AM ET 2008-04-03T15:13:43

Dell Inc. founder and CEO Michael Dell says the world’s second-biggest computer maker is committed to reducing costs over the next several years and improving the company’s competitiveness.

At the first full analyst meeting since 2005, Michael Dell addressed the ongoing turnaround of the computer company that was eclipsed as the world’s largest PC maker in 2006 by Hewlett-Packard Co.

Dell aims to cut $3 billion over the next several years to boost profits.

Michael Dell said Thursday that the company’s leaders are not satisfied with the current state of affairs and we are on a mission to address this.

Dell also plans to cut more jobs than the 8,800 it earlier targeted and has already eliminated 5,500 positions, Michael Dell said Thursday.

The CEO said the company will end the current year with lower operating expenses than in the previous year, and that the job cuts are continuing in the current quarter and will exceed the earlier target first announced in May 2007.

“We are not satisfied with the current state of affairs and are on a mission to fix it,” said Dell. “Every area of the company is being pursued” for cost cuts.

Dell on Monday said it planned to reduce annual expenses by $3 billion annually by 2011. On Monday, Dell said the company had eliminated 3,200 jobs.

The Associated Press and Reuters contributed to this report.

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