Dell Technologies laying off thousands of people

Up to 3,000 Dell Technologies employees will be laid off before year's end, it was reported.

Not everyone will be pleased with the recent Dell EMC merger. For example, the 3,000 people that the new company is planning on laying off, they probably won't be too happy about it. Bloomberg, citing anonymous sources, says the newly formed company, Dell Technologies, plans on eliminating anywhere between 2,000 and 3,000 people from its ranks. 

The layoffs should happen before the year ends, and in the first 18 months of the new company's existence, should save it $1.7 billion. The company currently has some 140,000 employees. Dell spokesman Dave Farmer said in a statement: “As is common with deals of this size, there will be some overlaps we will need to manage and where some employee reduction will occur. 

We will do everything possible to minimise the impact on jobs.” He also said he expects revenue to outweigh cost savings, as well.  The majority of jobs cut will be in the supply chain, general, administrative and marketing jobs, the report claims. 

 A few days ago, the two companies finally completed the biggest merger in the history of tech companies, forming the biggest privately-held tech company in the world. The merger itself cost $67 billion, with the new company reportedly being worth around $74 billion. 

"We are at the dawn of the next industrial revolution. Our world is becoming more intelligent and more connected by the minute, and ultimately will become intertwined with a vast Internet of Things, paving the way for our customers to do incredible things,” said Michael Dell, chairman and CEO of Dell Technologies.

Image Credit: Flickr / Toshiyuki IMAI