Due to the decline in demand for its personal computers, Dell Technologies Inc (DELL.N) will cut 6,650 positions, or nearly 5% of its global workforce, according to a Monday report by Bloomberg News. According to a memo to staffers from Jeff Clarke, co-Chief Operating Officer, the market circumstances for the company “continue to degrade with an uncertain future.”  The prior cost-cutting efforts, such as a halt on employment and travel restrictions, are insufficient, according to Clarke in the message. 

A potential to increase efficiency exists with the departmental restructuring and employment reduction, a corporate representative told Bloomberg News. Microsoft Corp. (MSFT.O), Amazon.com Inc. (AMZN.O), and Goldman Sachs Group Inc. (GS.N) are just a few of the companies that have recently cut thousands of jobs to help the economy weather a demand slump as consumer and business spending declines as a result of high inflation and rising interest rates. According to a survey released on Thursday, layoffs in the US reached a more than two-year high in January as technology companies shed staff at the second-fastest rate ever as they prepare for a potential downturn.