I was hoping things will improve here at HP but we seem to be sinking deeper and deeper ever since the split (even before the split)... What are your thoughts on the job cutting plans?
HP plans to lay off 3,000 to 4,000 employees over the next three years as it works to trim costs, it said on Thursday.
The printer and computer business, which was recently split off from the sεxier cloud and software business now called Hewlett Packard Enterprise, has continued to struggle amid declining demand for its products.
“I’m proud of the progress we have made in our first year as the new HP,” said CEO Dion Weisler, who added that “our markets remain very challenged.”
The layoffs will help yield in savings of $200 million to $300 million per year beginning in fiscal 2020. However, first, the company will incur charges of $350 million to $500 million, of which $200 million can be attributed to reducing the size of its workforce.
Source: Lauren Gensler post on Forbes - see it at http://www.forbes.com/sites/laurengensler/2016/10/13/hp-plans-layoffs-pc-slump