Dell to axe 6,650 jobs - report

According to Bloomberg, the US hardware giant is planning to shed around 6,650 jobs following a fall in demand for its personal computers.

In a memo sent to all employees, chief operating officer Jeff Clarke said market conditions "continue to erode, with an uncertain future" and that previous cost-cutting measures - including a hiring freeze and travel limits - were no longer sufficient.

The company has yet to formally announce any job cuts. However, a company spokesperson told Bloomberg that job cuts and department reorganisations were an opportunity to drive efficiency.

Dell joins a growing list of tech companies that had together announced a swathe of job cuts in recent weeks, including Microsoft, Amazon, Google parent Alphabet and software specialist Salesforce. Facebook owner Meta Platforms announced it was culling around 13% of its workforce late last year.

The tech sector enjoyed unprecedented demand during the pandemic and expanded rapidly. But as the boom eases and global economy slows, firms are now looking to cut costs.