Home Business Tech layoffs continue! HP announces layoffs of up to 6,000 over the next three years Provider Investing.com

Tech layoffs continue! HP announces layoffs of up to 6,000 over the next three years Provider Investing.com

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Tech layoffs continue! HP announces layoffs of up to 6,000 over the next three years Provider Investing.com
© Reuters.

Yingwei Finance Investing – Computer maker HP Inc (NYSE: ) said Tuesday it plans to cut between 4,000 and 6,000 jobs over the next three years. Shares in HP rose as much as 1% after the market closed after the news was announced.

Before Hewlett-Packard, many technology companies including Meta, Microsoft, and Salesforce announced layoff decisions.

HP said in its latest fourth-quarter performance report that its revenue fell 0.8% to $148 during the period, and its personal system business revenue, including the PC computer business, fell 13% to $10.3 billion, with shipments down 21%.

In a statement, HP said its “future-ready transformation plan” is expected to save $1.4 billion or more over the next three years.

In addition, HP also issued a pessimistic performance forecast, with adjusted earnings per share of $3.20-3.60 in fiscal 2023, which was lower than analysts’ expectations of $3.62.

As of October 2021, HP had 51,000 employees.

[This article is from Yingwei Caiqing Investing.com, to read more, please log in to cn.Investing.com or Yingwei Caiqing App]

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(Editor: Chen Han)

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