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.
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(Editor: Chen Han)