Dell is to shut a manufacturing plant for what is believed to be the first time in its 24-year history as it struggles to slash costs and rebuilt its profit margins.

The closure of the plant - which assembles PCs - is located in Austin, Texas, Dell’s headquarters, will result in the loss of some 900 jobs. The move is part of what Dell characterised as an attempt to wipe $3bn from its annual operating costs, which last year topped $50bn.