The Recycler
  • Katun web banner December 2022 NEW
  • Biuromax Masthead web banner March 2024
  • G&G Feb 24 Masthead Banner

HP Inc to cut up to 5000 jobs

June 6, 2018

As part of its restructuring program, the OEM is expecting to cut between 4,500 and 5,000 jobs.

As Bloomberg reveals, between 4,500 and 5,000 employees will depart the company by the end of fiscal year 2019, “as part of an ongoing restructuring plan”.

The plan was first approved by HP’s board back in 2016, when it stated that it expected the number of jobs to be cut to be around 4,000. Now, the number of job losses looks set to be up to 1,000 more than originally forecast.

Subsequently, HP Inc will incur “pretax restructuring charges of about $700 million (€594.3 million)” for these job losses, an increase of $200 million (€169.8 million) from the OEM’s original estimate.

As of 31 October 2017, the company employed 49, 000 people.

Since its split from Hewlett-Packard, under the direction of CEO Dion Weisler, HP Inc “has produced consistent growth” despite a decrease in demand for PCs; part of its success has come from its printer business, particularly since the OEM’s well-documented purchase of Samsung’s printer unit.

At the end of May 2018, HP reported “its seventh consecutive quarter of sales growth” and raised its profit forecast for this fiscal year.

 

 

Categories : Around the Industry

Tags : Business Financial HP Inc Job Cuts USA

  • Ink Tank April 2024 Web Ads
  • Mito Web advert July 2023
  • Biuromax March 2024 Banner
  • TN Core April 2024 Web Banner
  • IR Italiana Web ad January 2021
  • G&G Big & Bold Web banner January 2024
  • GM Technology Web Ad March 2024
  • Cartridge Web April 2024 Web Banner
  • Apex Web Banner April 2024
  • Static Control June 2022 Big & Bold Ad
  • CET Web ad December 2023
  • Zhono Web ad March 2024
  • PCL April 2024 Web Banner
  • Altkin Web ad March 2024
  • HYB Web banner Jan 2024
  • ITP Web ad January 2021
  • Denner Feb 2024 Web Ad
  • Denner Feb 2024 Web Ad
  • Zhono Web ad March 2024
  • HYB Web banner Jan 2024
  • PCL April 2024 Web Banner
  • CET Web ad December 2023
  • Altkin Web ad March 2024
  • ITP Web ad January 2021
  • HYB Web banner Jan 2024
  • Denner Feb 2024 Web Ad
  • Altkin Web ad March 2024
  • PCL April 2024 Web Banner
  • CET Web ad December 2023
  • ITP Web ad January 2021
  • Zhono Web ad March 2024

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark

The Recycler Subscribe Web ad January 2021
The Recycler Subscribe Web ad January 2021