Menu
​3,000 jobs cut as HP Inc hurries layoff plans

​3,000 jobs cut as HP Inc hurries layoff plans

“I believe there may be even more opportunity to reduce cost and streamline processes, and we will share details when finalised.”

Dion Weisler - CEO, HP Inc

Dion Weisler - CEO, HP Inc

HP Inc is accelerating plans to cut staff and trim costs, revealing that 3,000 workers will be let go within the next 12 months.

As part of the company’s restructuring plans, announced last year, the tech giant was expected to cut as many as 3,300 jobs over the next three years, with 1,200 staff set to leave in 2016.

But in a change of tack, HP Inc CEO, Dion Weisler, has pushed ahead with the layoffs, telling analysts that the company wasn’t going to wait and instead will make 3,000 cuts in 2016.

“We are accelerating the restructuring program also announced at SAM by increasing the fiscal 2016 employee reductions to approximately 3,000,” Wiesler sais.

“I believe there may be even more opportunity to reduce cost and streamline processes, and we will share details when finalised.”

Backing up Wiesler’s comments, HP CFO, Cathie Lesjak says the tech giant has already cut 400 people during its first quarter, meaning 2,600 more staff will be axed by the end of the year.

When speaking to analysts, Lesjak expects the layoffs to cost $US300 million and save the company the same amount starting next year.

“This move is basically HP Inc embracing the tough pricing environment and shifting their focus to building their portfolio,” said Shannon Cross, Research Analyst, Cross Research, when speaking with The Times of India.

The restructuring follows reports that HP Inc posted revenue declines of 12 percent, compared to the same period last year.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags HPPrinter

Featured

Slideshows

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Reseller News has honoured the leading female front runners of the New Zealand ICT industry at the 2019 Women in ICT Awards (WIICTA) in Auckland. The awards recognised standout individuals across six categories, spanning Entrepreneur, Rising Star, Shining Star, Community, Technical and Achievement. Photos by Gino Demeer.

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA
Reseller News kicks off awards season in 2019 with Judges' Lunch

Reseller News kicks off awards season in 2019 with Judges' Lunch

The 2019 Reseller News Innovation Awards has kicked off with the Judges Lunch in Auckland with 70 judges in the voting panel. The awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors. Photos by Christine Wong.

Reseller News kicks off awards season in 2019 with Judges' Lunch
Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomed 2018 inductees - Chris Simpson, Kendra Ross and Phill Patton - to the third running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing landscape of the technology industry in New Zealand, while outlining ways to attract a new breed of players to the ecosystem. Photos by Gino Demeer.

Reseller News welcomes industry figures for 2019 Hall of Fame lunch
Show Comments