Dell to lay off 5% of workforce amid PC slump

FILE PHOTO: The Dell logo is seen on an item for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File Photo

(Reuters) - Dell Technologies Inc said on Monday it would lay off about 5% of its workforce as it struggles with a slump in the personal computer market and braces for a potential recession.

PC demand has collapsed after a two-year boom during the pandemic when people working from home splurged on everything from new monitors and laptops to keyboards.

The layoffs also add to the thousands of cuts in the tech industry whose outlook has been shaken by a drop in spending by consumers and businesses due to rising interest rates.

(Reporting by Aditya Soni; Editing by Savio D'Souza)

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