Even as EMC expands beyond network storage technology into security, virtualization and content management, it is preparing to cut more than 1000 jobs across the globe.

Earlier in the week the company reported third quarter net income of $283.7 million, or 13 cents per diluted share, on revenue of $2.82 billion for the three months ended Sept. 30, exceeding analyst's estimates of 12 cents per share on revenue of $2.67 billion.

EMC plans to eliminate 1250 jobs as it consolidates operations in the wake of 21 acquisitions it has made in the last three years.

EMC, which is known for making network storage equipment, has expanded into virtualization technology with its acquisition of VMWare and network security with its $2.1 billion acquisition of RSA Security.