MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE
Laptop maker Dell is cutting thousands of jobs due to the pandemic work from home ends.
The US technology company said it would cut 6,650 jobs – about 5 percent of its workforce – and warned that market conditions “continue to deteriorate with an uncertain future”.
Founded in 1988 by entrepreneur Michael Dell and valued at around $30bn (£25bn), Dell sells consumer laptops, desktops and monitors, as well as software and IT infrastructure for businesses.
The tech giant has enjoyed a surge in revenue and profits during the pandemic as spending on personal computing and IT gadgets soared. But demand for new PC hardware is falling as companies call staff back to the office while consumers spend less on new gadgets due to the economic slowdown.
Data from analysts Counterpoint showed that global shipments of personal computers fell by 27.8 percent in the last three months of 2022.
Counterpoint added that Dell’s market share of global PC shipments fell to 16.7 percent, the lowest level in more than two years, due to a major slowdown in notebook sales.
Other IT giants have started laying off employees in response to a slowdown in consumer and business demand for new PCs and IT hardware.
In November, Dell rival HP said it would cut about 6,000 jobs, or about 12 percent of its workforce. IBM, which makes mainframe computers for businesses, said last month it would cut 3,900 jobs, or about 1.5 percent of its workforce.
Jeff Clarke, Dell’s chief operating officer, said in a memo to staff: “We’ve dealt with economic downturns before and we’ve come out stronger. We’ll be ready when the market picks up again.”
Mr. Clarke said Dell needed to go further to cut costs, as it had already curtailed travel and benefits for employees.
Dell shares have fallen by about a third in 2022 amid a selloff in tech stocks as pandemic-fueled demand for digital technology has waned.
U.S. layoffs hit a two-year high in January, helped by tech giants cutting spending after the pandemic.
Despite more than 100,000 US workers losing their jobs, the economy remains close to effective full employment, with the unemployment rate at its lowest level in nearly half a century.
.
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE