HP Inc: 4,000 to 6,000 job cuts planned

(CercleFinance.com) - Alongside its quarterly earnings call on Tuesday night, HP Inc.
said that it plans to reduce its global gross headcount by about 4,000 to 6,000 employees by the end of FY 2024-25, as part of its "Future Ready Transformation" plan.

It expects to incur about 1 billion dollars in restructuring and other charges as part of the plan, with about 0.6 billion dollars of that in FY 2022-23, with the remainder spread roughly evenly over the next two fiscal years.

The hardware provider says that these measures will result in annualised savings of at least 1.4 billion dollars by the end of FY 2024-25, through digital transformation, portfolio optimisation and operational efficiency.

Up 3% before the opening bell, the share may not be too badly affected by these layoffs.


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