Home Technology HP says it will lay off up to 6,000 workers over the...

HP says it will lay off up to 6,000 workers over the next couple years | CNN Business

CNN Business

HP Inc. announced on Tuesday that it will lay off thousands of workers over the next three years, becoming the latest tech company to significantly downsize staffing amid a souring economic climate.

The computer maker disclosed the major job cuts in a statement accompanying its lackluster quarterly earnings report on Tuesday afternoon, where it also said sales dropped more than 11% compared to the same period last year.

“The company expects to reduce gross global headcount by approximately 4,000-6,000 employees,” HP said. “These actions are expected to be completed by the end of fiscal 2025.”

HP had previously reported having a global headcount of

some 51,000 employees.

HP President and CEO Enrique Lores added in a statement that the company’s so-called “Future Ready strategy” will “enable us to better serve our customers and drive long-term value creation by reducing our costs and reinvesting in key growth initiatives to position our business for the future.”

The news makes HP the latest in a growing list of once-high-flying tech companies that are now announcing significant job cuts. Facebook-parent Meta recently said it was cutting 11,000 jobs across the company, and Amazon

confirmed last week that wide-ranging layoffs had begun at the e-commerce giant that would continue into next year.

Source link



Please enter your comment!
Please enter your name here

Most Popular

Bitcoin Now Undervalued For 170 Days, How Does This Compare With Previous Bears?

On-chain data shows Bitcoin has been undervalued for 170 days now, here’s how this figure compares with that during the previous bear markets. Bitcoin...

5 Barbell Exercises You are Doing Wrong – My Site

The barbell is one of the most versatile gym equipment. Barbells have applications in strength development, muscle building, athletic performance, injury reduction, and...

India vs Bangladesh 2nd ODI Predicted 11: Will Axar Patel and Umran Malik return for must-win second game?

Team India had a brilliant chance to go 1-0 up in the three-match ODI series against hosts Bangladesh but a brilliant last wicket...

Recent Comments