HP will lay off between 4,000 and 6,000 workers in the next three years, the US multinational based in Palo Alto, California announced on Tuesday. The departures are included in a savings plan for 1,400 million dollars -1,360 million euros- per year by 2025. The restructuring and other expenses will in any case have an impact of 1,000 million.
According to the latest figures available, HP has a workforce of some 61,000 employees worldwide - after adding 10,000 in one year - and for the moment it has not specified how the staff cuts will be distributed among its various units. Thus, it will dispense with 10% of the workforce.
The cut comes amid falling figures. As reflected in the results presented yesterday, in the last fiscal year, closed in October, it had a turnover of 63,000 million, 0.8% less, with a profit of 3,200 million, half. Sales in the business that includes computers fell 13% to $10.3 billion, while print sales fell 7% to $4.5 billion.
The forecasts are not better. The computer sales business will contract 10% this year, he admits. Enrique Lores, president and CEO of HP, said in a statement that this new strategy will create more value in the long term by reducing costs and allowing reinvestment in "key growth initiatives", such as subscription services.
With the cut, the company joins other large technology companies that have announced staff cuts in recent weeks. The end of the pandemic, which triggered the use of digital alternatives, and the rise in rates and change in the financial landscape are making themselves felt in the sector. Among others, there are 11,000 layoffs at Meta, 10,000 at Amazon, the loss of half the workforce at Twitter after the purchase by Elon Musk, as well as departures at Lyft, Salesforce or Stripe.
