Dell Technologies Inc (NASDAQ:DELL) reduced its workforce by roughly 11,000 employees in fiscal 2026, bringing total headcount to about 97,000 by the end of January, according to its latest 10-K filing.
The decline represents a 10% year-over-year reduction and marks the third consecutive year the company has trimmed its workforce by a similar proportion. Dell reported approximately 108,000 employees a year earlier and about 133,000 in fiscal 2023, reflecting a steady downward trend.
The company said the reduction includes a mix of layoffs and attrition, driven by ongoing restructuring efforts and cost-control measures. These actions included employee reorganizations, limits on external hiring, and other steps aimed at aligning investments with strategic and customer priorities.
“Throughout fiscal 2026, we remained committed to disciplined cost management in coordination with our ongoing business modernisation initiatives,” Dell said in the filing.
Dell also disclosed it spent $569 million on severance and related costs during the year, down from $693 million in fiscal 2025
The cuts come amid broader changes across the technology sector, where companies are adjusting cost structures while increasing investment in artificial intelligence and related infrastructure. Industry data cited by Reuters indicates that dozens of tech firms have collectively eliminated tens of thousands of roles this year as part of similar efforts.
Shares of Dell traded hands at $154 late morning on Tuesday, up about 22% so far this year.