How long will it be before they announce these measures weren't enough and they are laying off? We are expected to work harder, longer hours for less and less reward. There's been a huge increase in digital traffic, yet Dell is struggling?
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15% is nothing, smaller startups already instituted 6 month of -20% or more and layoffs. Dell, IBM, HPE, Oracle all cutting benefits, forced vacation during New Year because worldwide half the populous doesn't work, so turn off the lights.
https://www.wfmz.com/news/pr_newswire/pr_newswire_business/dell-technologies-inc-announces-pricing-of-offering-of-2-25-billion-of-first-lien-notes/article_4fb8de8b-be13-521d-b568-cbc1a7526333.html
Where is any information on the $2.25bn loan that was added? they just sold RSA for a similar amount makes no sense to then go get more debt?
With the recent $2.25 billion loan, Dell's total principal debt has risen to $54.85 billion, nearly 70% of which is classified as core debt.
The company is hemorraging cash just to service the interest on such huge loans! Ch. 11 bankruptcy doesn't sound so unrealistic. Soon Dell might need to enlisted restructuring experts to help it address its cash crunch that has made its $55 billion debt pile potentially unsustainable.
Dell and its creditors should also be preparing for potential negotiations on reworking the company's finances.
Just use your common sense: where do think Dell will spend that extra $2.25 billion? Interest payments and executives salaries!
JC and the other top execs should sacrifice their pay for a year
Employees willing to accept long term viability for a company’s greed and inept fiscal planning and acquisitions. Michael screwed the investors when he took the company private, now expects all to not have a viable retirement option all for wealth acquisition. Don’t you love self righteous billionaires.
@1vde+152UdgRN you are a dic—ad. With the new acceptable remote world ahead of us, alot of doors are opening up for software developers. Lets walk through them together.
Sorry you have to work harder - i think you simply need to be grateful you have a job, a paycheck and insurance right now. I also work at Dell and am not complaining. I am grateful!!
Dell is not positioned to benefit in any material way from WFH. Don't forget about all that debt Michael Dell took on to take his baby public again.
15% pay cuts are next...along with layoffs. That seems like the logical progression. Still a shame with all the baggage they have at the senior director levels and above.