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Dell Is Latest Tech Company To Slash Jobs In Face Of Slumping Demand

A running list of layoffs at tech firms in 2023.
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IBM offices in Foster City, California. Photographer: David Paul Morris/Bloomberg
IBM offices in Foster City, California. Photographer: David Paul Morris/Bloomberg
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Mass job cuts are accelerating at technology companies as they cope with a slowdown in spending and a shaky economy. 

Dell Technologies Inc. was the latest to announce layoffs, saying it would cut about 6,650 roles. That amounts to roughly 5% of its global workforce.

Other tech giants have reduced their headcount, including Google parent company Alphabet Inc., Microsoft Corp., Amazon.com Inc. and International Business Machines Corp. Over 67,000 jobs have been eliminated across the industry since the beginning of the year, according to data compiled by Bloomberg.

It’s a continuation of a worrying trend from last year: The tech sector announced 97,171 job cuts in 2022, up 649% compared with the previous year, according to consulting firm Challenger, Gray & Christmas Inc.

Big tech companies benefitted from a boom in online spending and remote work that kicked off during the Covid-19 pandemic lockdowns in 2020. Now, many of these businesses are reporting disappointing growth rates as customer behavior returns to normal. Their leaders are saying they expanded too quickly and are looking to slash costs.

Here’s a running list of who’s cutting jobs.

(Updates with Dell cuts starting in second paragraph.)

More stories like this are available on bloomberg.com

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