HP joins the job-cutting membership, plans to shed as much as 6,000 positions

HP has simply accomplished an excellent bigger workforce discount that sought to chop headcount by 7,000 to 9,000 between 2019 and the tip of fiscal 2022. (The corporate’s year-end is 31 October.)

The job minimize announcement got here as HP reported an 11.2% decline in fourth-quarter web income, which HP president and CEO Enrique Lores nonetheless referred to as a “strong finish” to the fiscal 12 months.

“Trying ahead, the brand new Future Prepared technique we launched this quarter will allow us to raised serve our clients and drive long-term worth creation by lowering our prices and reinvesting in key development initiatives to place our enterprise for the longer term,” Lores mentioned.

With the headcount discount announcement, HP joins a rising listing of tech corporations shedding staff amid financial uncertainty.

Fb’s father or mother firm, Meta, just lately laid off 11,000 employees and can be extending its hiring freeze till the primary quarter of 2023. Amazon let go of about 10,000 employees over the previous weeks, and warned that more layoffs will happen next year.