Key takeaways:
- Dell Technologies has announced plans to lay off 5% of its workforce due to the uncertain economic climate.
- The tech industry has been hit hard by the economic downturn, with other large tech companies having laid off tens of thousands of employees in recent months.
- Dell has not yet revealed which departments will be affected by the layoffs, and it is unclear how many jobs will be lost in total.
Dell Technologies, a major hardware maker, has announced plans to lay off 5% of its workforce due to the uncertain economic climate. The announcement follows similar cost-cutting measures taken by other large tech companies such as Alphabet, Amazon, IBM, Meta, Microsoft and Twitter.
In a letter to employees, Dell’s vice chairman Jeff Clarke said that the company had already taken steps to reduce costs, such as restrictions on employee travel and a pause on external hiring, but that these were no longer enough. He attributed the job cuts to the “challenging global economic environment”.
The tech industry has been hit hard by the economic downturn, with interest rate hikes contributing to the financial woes of many companies. Dell’s announcement follows a number of other large tech companies that have laid off tens of thousands of employees in recent months.
Despite the job cuts, Dell has reported several strong quarters due to the steps taken to stay ahead of the downturn impacts. The company has not yet revealed which departments will be affected by the layoffs. It is unclear how many jobs will be lost in total, but the company has said it will provide severance packages and outplacement services to those affected.
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