Dell is following within the footsteps of the broader tech trade and is shedding round 6,600 positions. The corporate is citing a lowered demand for PCs—in addition to the financial system—for the choice.

Based on Bloomberg, the cuts will quantity to about 5% of the corporate’s workforce. Likewise, the corporate’s workforce might be lowered to roughly 126,000 world workers, which might be its lowest since 2017. Based on Dell co-CEO Jeff Clarke, the corporate tried various measures, like a hiring freeze and limits on journeying, earlier than deciding to make worker cuts.

“We’ve navigated financial downturns earlier than and we’ve emerged stronger,” Clarke wrote to Dell workers based on an organization spokesperson as reported by Bloomberg. “We might be prepared when the market rebounds.”

Dell didn’t instantly reply to Gizmodo’s request for touch upon the layoffs.

Texas-based Dell has been going through financial pressures like the remainder of the tech trade, however its struggles are compounded because the firm offers primarily in {hardware} gross sales. PC and accent gross sales boomed through the peak of the covid-19 pandemic as most had been relegated to working from house, however the pandemic-fueled development clearly couldn’t final. As such, PC gross sales have plateaued and Dell is feeling the warmth.

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Dell competitor HP introduced plans to put off workers in November, citing comparable circumstances. HP’s fiscal 12 months web income for 2022 fell 0.8% year-over-year. Intel has additionally made strikes to try to lower prices by chopping the pay of sure increased stage workers. The corporate lower Principal Engineer salaries 5%, VP salaries 10%, government management salaries 15% and the CEO’s wage 25%.

The tech trade, each legacy firms like Dell and firms like Google, has been pulling the set off on shedding workers in latest months citing some model of “the financial system.” As these firms sought to money in on pandemic-fueled development, which might inevitably taper off shortly after 2020, workers are actually paying the value.