HP: Additional lay-offs until 2019

HP: Additional lay-offs until 2019
HP: Additional lay-offs until 2019
One year after the split-up of the company, HP announces additional job-cuts, that will take place over the course of the next three years. The additional lay-offs mean that 14 % of all jobs at HP In. will be cut.

One could assume that things are going reasonably well for HP Inc. The companies shares have gained 28 % since January 2016 and the company has gained market-share and sold more PCs last quarter, against the trend of the market. It even comes close now to overtake Lenovo again as the worlds biggest PC-manufacturer.

However, these "good" news don´t necessarily indicate that the company is performing well. Consequentially, HP has announced on a investors call that it will continue and extend the already announced job cuts for 2016, which included 3.000 jobs. The new cuts involve the lay-off of additional 3.000 - 4.000 employees over the course of the next 3 years, they are expected to be finished in 2019. This means that since the split-up of Hewlett Packard into HP Inc. and Hewlett Packard Enterprise, HP Inc. will have fired 14 % of its employees, or 6.000 - 7.000 of originally 50.000 employees.

HP expects that the lay-offs will cost the company 350 to 500 Million US-Dollars. On the other hand, they also are projected to save the company 200 to 300 Million US-Dollars annually, starting in 2020. In other news, HP also recently announced the acquisition of Samsungs printer business.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2016 10 > HP: Additional lay-offs until 2019
Benjamin Herzig, 2016-10-14 (Update: 2016-10-14)
Benjamin Herzig
Benjamin Herzig - Editor