2/6, 12:44 PM (Source: TeleTrader)
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Dell cuts 5% of staff citing challenging environment

Dell Inc. confirmed on Monday the company will be reducing its global workforce by about 5% amidst a "challenging" economic environment.

The technology giant told its employees in a memo that the decision was made in order to "align its investments more closely with its previously discussed strategic and customer priorities ... The company expects to recognize expenses associated with these actions in the fourth fiscal quarter of fiscal 2023," an SEC filing revealed.

Dell's number of employees has been on a decline over the past two years, with the data from January 2022 estimating its total workforce at 133,000. The latest layoffs are expected to affect about 6,650 workers.

Baha Breaking News (BBN) / ND