Dell admits customers not spending

Shares tumble as company admits more bad news to come

Dell admits customers not spending. Biz, Dell, Hardware, Photos 0

16 September 2008 14:44 GMT / By Katie Scott

Dell has warned that consumers simply aren't spending at the moment, and has predicted even tougher times ahead.

The company admitted a steep drop in profits last month and has cut 8500 jobs so far out of a planned 8900.

But are more planned?

Dell has now told the market: "The company is seeing further softening in global end-user demand in the current quarter", and it expects to incur costs as it "realigns its business to improve competitiveness, reduce headcount and invest in infrastructure and acquisitions".

Its shares fell more than 7% on the release of the statement.
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