Mar 26 2024, 08:31 PM, updated 2y ago
Layoffs Loom Large! First WFH rule change, now 6000 job cuts! THIS tech giant fired 6650 employees in 2023 too
https://www.msn.com/en-in/money/topstories/...too/ar-BB1ky2zc
Dell Technologies (DELL.N) announced a workforce reduction as part of cost-cutting measures, which also include curbing external hiring and restructuring staff, according to Reuters report. Dell's headcount has reduced from over 126,000 employees a year ago to nearly 120,000 as of February 2, 2024.
What is the reason for the Layoff
The company faced a decline in PC demand for almost two years, leading to an 11% revenue fall in the last quarter's results. Dell anticipates growth in its Client Solutions Group (CSG), which focuses on PCs, throughout the year despite a 12% revenue drop in the last quarter.
The company remains cautious about short-term obstacles but expects a recovery in demand and a more competitive pricing landscape in FY 2025. Dell also foresees rising input costs and predicts a continued decrease in net revenue for other business areas due to changes in its commercial relationship with VMware.
Dell has cut 6,650 jobs in 2023
Following the repurchase of shares linked to VMware, Dell re-entered the market in 2018. Broadcom (AVGO.O) completed a $69 billion acquisition of VMware last year. Facing a potential recession and reduced PC demand, Dell cut 6,650 jobs last year.
Work from Home rule change
Dell previously reportedly advised remote workers that they may continue working from home but would not be considered for promotions. In a shift from its hybrid work culture, which had begun even before the Covid epidemic, the firm advocated for a stringent return-to-office (RTO) policy and informed staff of a return-to-office mandate, categorizing them as "hybrid" or "remote" worker.
Dell Layoffs : Cuts 6,000 jobs
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