Dell shares fell Monday following news of layoffs at the PC maker.
Declines for the Dow Jones Industrial Average (DJINDICES: ^DJI) were once again minimal, but the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) declined a bit more sharply. RH (NYSE: RH) released preliminary results for the holiday quarter that left shareholders of the high-end home furnishings retailer wanting more. Meanwhile, Dell Technologies (NYSE: DELL) joined the growing chorus of companies adding to concerns about the future of the labor market.
Dell became the latest tech company to announce widespread layoffs today (Feb. 6). Per Bloomberg, the computer giant notified the Securities and Exchange Commission (SEC) that it will slash 6,650 jobs -- about 5% of its workforce. Dell CEO Jeff Clarke shared the news in a message to staff, writing, "There is no tougher decision, but one we had to make for our long-term health and success."