HP plans to reduce its workforce by 4,000 to 6,000 employees over the next three years

HP plans to reduce its workforce

HP has recently announced that it will be cutting 4,000-6,000 jobs in the next three years.

HP plans to reduce its employment, after other technology companies have announced similar intentions recently.

As of October last year, the company had 51,000 employees. However, in 2019 it announced plans to cut between 7,000 and 9,000 jobs.

The company announced its quarterly results for the first fiscal quarter that ended on October 31. Revenues declined 0.8% to $14.8 billion.

The company’s revenue from Personal Systems-related sales, which include computers, decreased 13% to $10.3 billion.

Decreased consumer revenues resulted in a 25% decrease. The company projected adjusted earnings per share to be between $3.20 and $3.50 for the current fiscal year.

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