Dell cuts 6,650 jobs as working from home boom ends
By David Wood | 7th February 2023
Laptop and PC maker Dell is cutting thousands of jobs as the pandemic's working from home boom ends.
The US technology company said it would lay off 6,650 jobs - about 5% of its workforce - warning that market conditions "continue to erode with an uncertain future", The Telegraph reported.
Dell was founded by entrepreneur Michael Dell in 1988 and is valued at around $30bn (£25bn). The tech giant sells consumer laptops, desktop PCs and monitors, as well as IT software and infrastructure aimed at businesses.
The company enjoyed a surge in revenues and profits during the pandemic as spending on personal computing and IT gadgets soared.
But demand for new PC hardware has been falling as businesses call staff back into the office, while consumers are spending less on new gadgets amid the economic slowdown, The Telegraph said.
Other IT giants have also begun cutting staff in response to a slowdown in consumer and business demand for new PCs and IT hardware.
In November, Dell rival HP said it would reduce its headcount by around 6,000 people, or about 12% of its workforce.
IBM, which makes mainframe PCs for businesses, said last month it would cut 3,900 jobs, or about 1.5% of its people.
Shares in Dell fell by around a third in 2022 amid a sell-off in technology stocks as the pandemic-fuelled demand for digital technology waned.
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