02:20 PM EDT, 08/05/2024 (MT Newswires) -- Dell Technologies ( DELL ) is cutting an unspecified number of jobs as it undertakes a reorganization of its sales teams that includes a new unit focused on artificial intelligence products and services, Bloomberg reported Monday.

A memo to Dell employees from president of global sales and customer operations Bill Scannell and president of sales, global theater and Dell Technologies Select John Byrne said the company is "streamlining layers of management and reprioritizing where we invest," according to the report.

"We are combining teams and prioritizing where we invest across the company," Dell told MT Newswires' in a statement. "Through a reorganization of our go-to-market teams and an ongoing series of actions, we are becoming a leaner company."

Dell shares were down more 4.5% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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