Dell suffered a 37.5% drop in shipments in the fourth quarter of last year.
Justin Sullivan/Getty Images
Dell
Technologies is planning to cut around 5% of its global workforce, in the latest in the wave of mass layoffs hitting the technology sector, according to a report.
The computer maker is planning to eliminate about 6,650 jobs, Bloomberg reported, citing an internal memo.
Dell
(ticker: DELL) didn’t immediately respond to a Barron’s request for comment early on Monday.
Dell shares were up 0.5% in premarket trading on Monday. Dell shares have traded up 5% this year so far, lagging an 8% rise in the S&P 500 index.
While recent attention has been on mass layoffs at technology giants such as Alphabet and
Meta Platforms
—which came after hiring sprees during the Covid-19 pandemic—hardware makers are also cutting back despite their relatively slower workforce growth in recent years.
Late last year,
HP
(HP) said it would cut up to 6,000 jobs as part of plans to save at least $1.4 billion by the end of 2025.
These latest layoffs come amid a downturn in personal-computer spending—with Dell facing a 37.5% drop in shipments in the fourth quarter of last year, according to International Data Corp.
Write to Adam Clark at adam.clark@barrons.com
Credit: marketwatch.com