US tech giant Dell to cut 5% of its global workforce / Photo: Brandon Bell - GETTY IMAGES NORTH AMERICA/AFP/File
-
Toulouse handed two-point deduction for salary cap breach
-
Son arrested for murder of movie director Rob Reiner and wife
-
Stock market optimism returns after tech selloff but Wall Street wobbles
-
Clarke warns Scotland fans over sky-high World Cup prices
-
In Israel, Sydney attack casts shadow over Hanukkah
-
Son arrested after Rob Reiner and wife found dead: US media
-
Athletes to stay in pop-up cabins in the woods at Winter Olympics
-
England seek their own Bradman in bid for historic Ashes comeback
-
Decades after Bosman, football's transfer war rages on
-
Ukraine hails 'real progress' in Zelensky's talks with US envoys
-
Nobel winner Machado suffered vertebra fracture leaving Venezuela
-
Stock market optimism returns after tech sell-off
-
Iran Nobel winner unwell after 'violent' arrest: supporters
-
Police suspect murder in deaths of Hollywood giant Rob Reiner and wife
-
'Angry' Louvre workers' strike shuts out thousands of tourists
-
EU faces key summit on using Russian assets for Ukraine
-
Maresca committed to Chelsea despite outburst
-
Trapped, starving and afraid in besieged Sudan city
-
Showdown looms as EU-Mercosur deal nears finish line
-
Messi mania peaks in India's pollution-hit capital
-
Wales captains Morgan and Lake sign for Gloucester
-
Serbian minister indicted over Kushner-linked hotel plan
-
Eurovision 2026 will feature 35 countries: organisers
-
Cambodia says Thailand bombs province home to Angkor temples
-
US-Ukrainian talks resume in Berlin with territorial stakes unresolved
-
Small firms join charge to boost Europe's weapon supplies
-
Driver behind Liverpool football parade 'horror' warned of long jail term
-
German shipyard, rescued by the state, gets mega deal
-
Flash flood kills dozens in Morocco town
-
'We are angry': Louvre Museum closed as workers strike
-
Australia to toughen gun laws as it mourns deadly Bondi attack
-
Stocks diverge ahead of central bank calls, US data
-
Wales captain Morgan to join Gloucester
-
UK pop star Cliff Richard reveals prostate cancer treatment
-
Mariah Carey to headline Winter Olympics opening ceremony
-
Indonesia to revoke 22 forestry permits after deadly floods
-
Louvre Museum closed as workers strike
-
Spain fines Airbnb 64 mn euros for posting banned properties
-
Japan's only two pandas to be sent back to China
-
Zelensky, US envoys to push on with Ukraine talks in Berlin
-
Australia to toughen gun laws after deadly Bondi shootings
-
Lyon poised to bounce back after surprise Brisbane omission
-
Australia defends record on antisemitism after Bondi Beach attack
-
US police probe deaths of director Rob Reiner, wife as 'apparent homicide'
-
'Terrified' Sydney man misidentified as Bondi shooter
-
Cambodia says Thai air strikes hit home province of heritage temples
-
EU-Mercosur trade deal faces bumpy ride to finish line
-
Inside the mind of Tolkien illustrator John Howe
-
Mbeumo faces double Cameroon challenge at AFCON
-
Tongue replaces Atkinson in only England change for third Ashes Test
NYSE - LSE
US tech giant Dell to cut 5% of its global workforce
American computer firm Dell said Monday that it will lay off some five percent of its global workforce, or around 6,650 employees, the latest casualties of a job-slashing wave hitting the US tech sector.
The cuts follow similar steps by tech giants Microsoft, Facebook owner Meta, Google-parent Alphabet, Amazon and Twitter as the industry girds for economic downturn.
They also come after a major hiring spree at the height of the coronavirus pandemic when companies scrambled to meet demand as people went online for work, school and entertainment.
But "market conditions continue to erode with an uncertain future," said Dell Technologies vice chairman Jeff Clarke in a memo released Monday.
"The steps we've taken to stay ahead of downturn impacts –- which enabled several strong quarters in a row –- are no longer enough," he added.
Dell, based at Round Rock in Texas, had 133,000 employees at the start of last year with nearly a third of them in the United States.
On Monday, Clarke said the company now has to make "additional decisions to prepare for the road ahead."
He warned of coming changes for the firm's global sales and services segments, adding that "unfortunately, with changes like this, some members of our team will be leaving the company."
"There is no tougher decision, but one we had to make for our long-term health and success," he added.
Dell's revenue fell six percent in the third quarter of its 2023 fiscal year, according to results released in late November.
Product sales, such as of desktops, laptops and workstations, which represent the bulk of the group's business activity, fell by 10 percent.
The group's executives pointed to the decline in demand for personal computers as people in the United States and around the world contend with high inflation and rising interest rates.
But the company has navigated economic downturns before and "emerged stronger" from them, Clarke stressed in the memo.
He added that Dell will "be ready when the market rebounds."
According to the specialist site Layoffs.fyi, just over 88,000 tech employees have lost their jobs since the beginning of January worldwide, not counting Dell's announcement on Monday.
O.M.Souza--AMWN