By Alain SherterDell Technologies is the most recent large high-tech company to announce a major layoff, with the hardware maker saying Monday it is slashing 5% of its workforce. 7 billion, down 6% from $26. First published on February 6, 2023 / 8:04 AMQuotes delayed at least 15 minutes

By Alain Sherter

Dell Technologies is the most recent large high-tech company to announce a major layoff, with the hardware maker saying Monday it is slashing 5% of its workforce.

filing, Dell attributed the job cuts to a "challenging global economic environment." Dell Chief Operating Officer Jeff Clark told employees in a letter that the company's previous moves to reduce its costs "are no longer enough. We now have to make additional decisions to prepare for the road ahead."

The cuts will be completed by the end of April, according to the filing.

reported net revenue of $24.7 billion, down 6% from $26.4 billion in the year-ago period. Its net income from continuing operations fell to $241 million, down 93% from $3.6 billion a year ago.

First published on February 6, 2023 / 8:04 AM

Quotes delayed at least 15 minutes.