Posted on October 14, 2016 by staff

Hewlett-Packard to cut 3,000-4,000 jobs


Hewlett-Packard intends to lay off 3,000 to 4,000 people in the next three years.

The jobs will be lost in the hardware arm of the US tech giant, HP Inc, which oversees its PC and printers divisions.

That company was formed a year ago after HP created spin-off cloud computing and software business Hewlett-Packard Enterprise.

“I’m proud of the progress we have made in our first year as the new HP. Our focus is clear, our execution is solid, and we are positioned well for the next step in our journey,”  HP president and CEO Don Weisler said in a financial outlook statement.

“Although our markets remain very challenged, we are committed to innovating in the core and continue to see long-term growth opportunities in commercial mobility and services, the disruption of the A3 copier market, and the digitisation of graphics and manufacturing through our leading 3D printing solutions.”

HP expects restructuring costs to reach $350 million to $500m, but for those to save the company $200m- $300m per year from 2020 onwards.

“We are confident in our strategy and believe it will continue to produce reliable returns and cash flow, while also enabling HP to invest in differentiated innovation and long-term growth,” added Weisler.

There was no indication of where the jobs would be lost.