IT solution provider CDW appears to be laying off hundreds of employees after the company warned that its first fiscal quarter 2023 revenue would fall below expectations.
The Illinois-based group expects first-quarter net sales of about $5.1 billion, well below analyst consensus estimates of $5.28 billion and significantly lower than the $5.95 billion in revenue the company reported for its fiscal first quarter 2022.
The outfit has 15,100 employees and several of them have complained on social media that they have been let go. The firm is offering a severance package, but laid-off employees are signing non-disclosure agreements.
One area hit by the layoffs is the field services unit which had some redundancies after CDW’s blockbuster $2.5bn acquisition of Sirius, the employee said.
Posts suggest that about a 1,000 employees are being laid off across the company with more coming.
