HP Inc.’s new CEO unveils plan to cut up to 9,000 jobs
SAN FRANCISCO (AP) — HP Inc.’s new CEO has unveiled the company’s latest plan to streamline its operations — one that envisions cutting its workforce by as much as 16% over the next three years.
The personal computer and printer maker says it expects to drop 7,000 to 9,000 people from its global workforce of about 55,000 by 2020. It expects the moves to save it about $1 billion a year by the end of its 2022 fiscal year.
HP announced the job cuts Thursday at a meeting with Wall Street analysts headlined by incoming CEO Enrique Lores. He had been overseeing the HP division that includes its profitable business of selling ink for the company’s printers before being named to the top job last month.