Dell To Let Go Of 6,650 Jobs As Uncertainties Dented Its Business: Report

Dell Technologies Inc DELL prepared to slash 6,650 jobs amid softening demand for personal computers.
The downsizing is equivalent to 5% of Dell's global workforce, Bloomberg reports citing Co-COO Jeff Clarke's internal memo.
Dell and other hardware makers battled cratering demand after a pandemic-era PC boom.
Also Read: Dell Eyes Reducing Dependence On China - India, Latin America Likely To Be Beneficiaries, Analysts Say
Among major companies, Dell saw the most significant personal computer shipments decline of 37% year-on-year in 4Q22, according to IDC. Dell generated 55% of its revenue from PCs.
Dell's previous cost-cutting measures, including a pause on hiring and limits on travel, were not enough to sustain efficiency, Clarke told workers.
PC rivals HP Inc HPQ, Cisco Systems, Inc CSCO, and International Business Machines Corp IBM have downsized their workforce.
The tech sector announced 97,171 job cuts in 2022, up by 649% Y/Y, the report cited Challenger, Gray & Christmas Inc.
In November 2022, Dell reported third-quarter revenue of $24.7 billion, which beat average analyst estimates of $24.53 billion. The company said third-quarter revenue was down 6% year-over-year.
Dell reported third-quarter earnings of $2.30 per share, which beat estimates of $1.60 per share.
Price Action: DELL shares closed lower by 0.42% at $42.24 on Friday.
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