Dell Cut 5% of its Global Workforce

1. Dell Technologies to cut about 5% of its global workforce.

2. It is about 6,650 jobs, due to market conditions and declining PC shipments.

3. The company faced a similar layoff in 2020 during the Covid-19 pandemic.

4. PC shipments have declined in the 4th quarter of 2022, with Dell facing the largest decline of 37%.

5. Other tech companies such as HP, Cisco Systems, and IBM have also announced job cuts in 2022.

6. The company has decided to reduce its dependence on Chinese chips.

7. It aims to stop using Chinese-made chips by 2024.

8. Dell's operating profit rose 68% in the 3rd quarter of 2022.

9. The profit was due to strong demand for servers and network equipment.

10. The company's operating expenses fell 8% in the 3rd quarter of 2022.

11. It was due to measures to reduce expenses and improving supply chain.