HP Could Layoff Up to 6,000 Workers by 2025
While many tech companies have so far opted to respond to worsening economic outlooks with a “rip the band-aid off” mass layoff approach, legacy brand HP went a slightly different route. In late November, following a worse than expected third quarter, HP released a statement saying they would move to layoff somewhere around 4,000 to 6,000 jobs but noted they would do so over the course of the next three years. The announcement came after earnings where HP sales dipped down more than 11% year over year.
“The company expects to reduce gross global headcount by approximately 4,000-6,000 employees,” the company said. According to that same document, HP says the layoffs and additional cost cutting efforts will result in annualized gross run rate savings of at least $1.4 billion by the end of 2025.
