US tech giant Hewlett Packard predicts up to 6,000 job cuts
PC maker Hewlett Packard announced on Tuesday that it will lay off up to 6,000 employees over the next three years as the slump in the global economy continues to affect the US tech sector.
HP, which employs around 61,000 people, said it aims to achieve $1.4 billion in annual savings through 2025 by following the cost-cutting path of other tech giants such as Meta , Amazon and Twitter, owner of Facebook.
The plan “will allow 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,” said HP’s CEO, Enrique Lores, in a press release.
Meta announced earlier this month that it would be laying off more than 11,000 of its employees and Twitter saw half of its 7,500 employees cut just days after billionaire Elon Musk bought the company in late October.
“These are the toughest decisions we have to make, as they impact colleagues we care about. We are committed to treating people with care and respect…” a spokesperson said. from HP in an email to AFP.
HP, which makes computer hardware and printers, announced the layoff plan by announcing an 11.2% drop in revenue to $14.8 billion for the last fiscal quarter of 2022.
Copyright 2022, Agence France Presse
Comments are closed.