DALLAS (AP) -- Days after returning as Dell Inc's chief executive officer, Michael Dell told employees of the beleaguered computer maker is quashing bonuses for 2006 and reducing managers.

The e-mail sent yesterday says the move is to help cut costs and steer the company back toward dominance.

It also revealed that Dell will not hire a chief operating officer, will push faster product development and will expand into new business to drive revenue growth.

Details of the shake-up came after Michael Dell replaced Kevin Rollins as CEO. The change comes as Dell tries to fix mounting problems that include a string of disappointing earnings, eroding market share and an ongoing federal accounting probe.

A copy of the e-mail was first obtained by the Austin American-Statesman and posted on the Statesman's Web site. Dell spokesman Bob Pearson verified that the e-mail was sent out yesterday afternoon but he would not provide a copy to The Associated Press.

In it, Dell wrote that the company ended its fiscal year Friday with "great efforts, but not great results."