HP Inc. introduced on Tuesday that it’s going to lay off hundreds of staff over the following 3 years, changing into the latest tech company to significantly downsize staffing amid a souring financial local weather.
The pc maker disclosed the key process cuts in a statement accompanying its lackluster quarterly profits record on Tuesday afternoon, the place it additionally stated gross sales dropped greater than 11% in comparison to the similar length closing yr.
“The corporate expects to scale back gross world headcount via roughly 4,000-6,000 workers,” HP stated. “Those movements are anticipated to be finished via the top of fiscal 2025.”
HP had prior to now reported having an international headcount of
some 51,000 employees.
HP President and CEO Enrique Lores added in a observation that the corporate’s so-called “Long term In a position technique” will “allow us to raised serve our consumers and pressure long-term worth introduction via lowering our prices and reinvesting in key expansion tasks to put our trade for the long run.”
The scoop makes HP the newest in a rising listing of once-high-flying tech firms that are actually saying important process cuts. Fb-parent Meta recently said it was cutting 11,000 jobs around the corporate, and Amazon
(AMZN) showed closing week that wide-ranging layoffs had begun on the e-commerce large that would continue into next year.