(Reuters) – Dell Technologies Inc said on Monday it would lay off about 5% of its workforce as it battles a slump in the personal computer market and prepares for a potential recession.

Demand for PCs fell after a two-year boom during the pandemic, when people who work from home splurged on everything from new monitors and laptops to keyboards.

The layoffs also add to thousands of layoffs in the technology industry, whose outlook has been shaken by falling consumer and business spending due to rising interest rates.

(Reporting by Aditi Soni; Editing by Savio D’Souza)

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