Dell (NYSE:DELL) layoffs are a hot topic on Tuesday after a recent filing revealed the company cut additional jobs to reduce costs.
According to this latest filing, Dell reduced its headcount from 126,000 workers to 120,000 over the course of a year. That represents a 5% reduction in staff at the computer company.
The Dell layoffs are part of the company’s efforts to cut costs. Dell has been reducing external hiring while also reorganizing its staff. This comes as it adjusts its business to meet customer demand.
These layoffs come as the computer company has seen a decrease in demand for its PCs. That saw its fourth-quarter revenue drop 11% year-over-year (YOY). However, Dell does estimate that demand will improve and pricing will get more competitive in fiscal 2025.
Dell Joins Layoffs Trend
Dell is far from the only company that has announced layoffs recently. 2024 has been filled with companies cutting jobs to reduce operating costs. Tech companies are among those that have announced large numbers of headcount reductions this year.
All of this comes on the back of increasing inflation and interest rates. That follows increased hiring to meet consumer demand throughout the pandemic. Investors are likely to see even more job cuts announced throughout the year.
DELL stock is up 3% as of Tuesday morning.
Investors searching for more of the most recent stock market stories are in luck!
We have all of the hottest stock market news worth reading about on Tuesday! Among that is what’s happening with DouYu International (NASDAQ:DOYU), Zhihu (NYSE:ZH) and the housing market. You can learn all about these matters at the links below!
More Tuesday Stock Market News
- DOYU Stock Earnings: DouYu Intl Hldgs Beats Revenue for Q4 2023
- ZH Stock Earnings: Zhihu Beats EPS, Beats Revenue for Q4 2023
- Housing Market Alert: Case-Shiller Eases Crash Fears as Home Prices Climb Again
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
