HP to cut up to 4,000 jobs in next three years

HP plans to cut another 3,000 to 4,000 jobs over the next three years. The layoffs follow on from previous reorganizations in which thousands of workers were fired in recent years.

The layoffs will fall between HP’s fiscal year 2017 and 2019, and the company expects the cuts in the workforce to vary by country. With the new reorganization, HP hopes to save $200 to $300 million annually, starting in 2020.

Until then, HP expects costs associated with the restructuring to reach $500 million, of which $200 million will be related to layoffs. HP has not stated a reason for reducing its workforce, but the continued decline in PC sales is likely related.

HP has undergone very extensive reorganisations in recent years. HP announced a major layoff of 27,000 jobs in 2012, followed by a further 2,000 job cuts in the same year. At the end of 2013, the loss of 5,000 jobs was reported and in 2014 the loss of another 11,000 to 16,000 jobs was reported.