You will need the Full Write Events permission to perform this action.
Navigate to the event to be deleted and select "Delete" from the "Actions" menu in the top right area.
If the event is on a repeating schedule, a pop-up will appear asking what exactly should be deleted.
After making a selection, or if the event is non-repeating, a confirmation message will appear. Type in the word "Delete" and choose "Confirm Delete" complete the action.