Dell Inc's president and chief

The company has already been cutting jobs and overhead as it tries to cope with both the economic slowdown and intense competition, and now plans to restructure its operations around three major businesses. As part of the reorganization, Dell said Mike Cannon, its president of global operations, would retire effective January 31, and will be succeeded by Jeff Clarke. Marketing chief Mark Jarvis, will also step down.

Dell plans to set up a global organization around three major segments - large enterprise, public sector, and small and medium businesses. Dell's consumer business is already organized globally. The latest moves come after a sharp fall in Dell's stock price this year. Shares are down nearly 60 percent this year, underperforming the broader stock market.

In a statement, the company said its new large enterprise division will be headed by Steve Schuckenbrock, who is currently president of global services and chief information officer.