HP Inc will cut up to 3,000 to 4,000 jobs over next three years
HP Inc. is one of the largest companies and this American technology company is having about 50,000 employees worldwide. Hewlett Packard develops and provides Technical hardware, such as personal computers and printers.now HP Inc decided to cut his employees over the next three years as it is facing challenges in the computer markets for personal computers and printers. HP Inc’ s stock was last down about 2 percent in extended trading market.
The company’s board said they will cut near about 3000-4000 jobs to save $200 million to $300 million over next three years.They said Demand for PCs and printers are Dropping day by day as more people use smartphones, store documents and photos online.Chief Executive Dion Weisler expects to build the business by selling more high-end Computer System, office printers and 3D printing systems.He said that the split “enabled us to become nimble and focus on accelerating growth and reinventing industries”. Although HP is planning to take on $350 million to $500 million in restructuring costs, it anticipated to save $200 million to $300 million per year from fiscal 2020 onward.
HP Inc. is one of two companies formed last year by the breakup of Hewlett-Packard Inc. The other, Hewlett Packard Enterprise Co sells servers and other data-center technologies. HP Inc. retained the personal computer and printer operations. At its height, the combined HP generated more than $100 billion in annual revenue.
Last month, HP announced to buy printer business of Samsung Electronics Co.’s in a deal worth $1.05 billion, the largest printing acquisition in Hewlett Packard’ Companys history.
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