Dell Technologies Inc. will eliminate about 6,650 jobs because of a drop in demand for the company's personal computers.
The 6,650 jobs cut is about 5% of Dell's global workforce.
Dell's co-Chief Operating Officer Jeff Clarke wrote in a memo to employees that the company is experiencing market conditions that "continue to erode with an uncertain future," according to Bloomberg News.
Clarke explained that previous cost-cutting initiatives, which included a pause on hiring and limits on travel, are no longer sufficient.
A spokesperson for Dell told Bloomberg News that department reorganizations and job cuts are an opportunity to drive efficiency.
Other companies — including Microsoft Corp., Amazon.com Inc. and Goldman Sachs Group Inc. — have recently slashed thousands of jobs to make up for a decline in demand, as consumer and corporate spending dips due to soaring inflation and heightened interest rates.
In January, layoffs in the U.S. were the highest in two years as technology companies reportedly cut jobs at the second-highest pace on record in preparation for a potential recession.