Funny, I just got back from an interview with EMC. Would now be a good time to take a position?
EMC will also slash out departments and products that don't perform. Make sure that whatever department / product you're going to work in is doing well.
I'm an outsider, but not all industries can use the 'real' cloud (AWS and Azure) for legal reasons (think banking, finance & health). VMWare + EMC storage can be part of a compelling self-hosted/hybrid 'cloud' solution.