Tin box-shifter Dell plans to cut some staff benefits including pay rises, promotions and 401(k) contributions as it looks to emerge from the COVID-19 crisis unscathed.
According to Bloomberg, Dell will halt several staff benefits as of 1 June and until at least the end of the year.
It is basically refusing to make contributions to employee 401(k) retirement plans and will freeze internal pay rises and promotions as it looks to preserve cash during the COVID-19 crisis.
Dell has put in place a hiring freeze until at least the end of 2020. Dell said the actions will help set it up for success when the pandemic subsides.
“Like all companies right now, we’re constantly evaluating our business to plan for resiliency in the current environment and to support our team members, customers, and community in a way that sets us all up for success on the other side of this pandemic”, the company said in a statement.
