Dell Initiates Major Cost-Cutting Measures by Laying Off Over 6,000 Employees

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What’s going on: 

Dell has announced that it will reduce its workforce by 5%, amounting to around 6,650 employees, as stated in an SEC filing.  

Why it matters: 

The tech industry is no stranger to layoffs, and PayPal’s most recent job cut announcement is the latest example of this trend. In January, Google, Microsoft, and Salesforce all announced that they were reducing their workforces by a collective total of more than 29,000 employees. 

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How it’ll impact the future: 

As demand for PCs and laptops has drastically declined worldwide, global shipments of PCs dropped a staggering 28% year over year in the fourth quarter of 2020, with Dell shipments sinking even lower at 37%. 

Because the workforce is relying less on personal devices and remote working, companies are less likely to continue investing into remote-centric tools and focus on getting back on the path towards profitable growth. 

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