Printer problem: HP says to slash up to 9,000 jobs to cut costs
HP estimates that it can save $1bn by the end of its 2022 fiscal year, but the restructuring will also cost it $1bn.
Personal computer and printer maker HP Inc said on Thursday it would cut up to 16 percent of its workforce as part of a restructuring plan aimed at cutting costs.
The company will cut about 7,000 to 9,000 jobs through a combination of "employee exits and voluntary early retirement", it said in a statement.
HP estimates that it will be able to save about $1bn by the end of its 2022 fiscal year, which ends on October 31.
The company had about 55,000 employees worldwide as of October 2018, according to a filing with the US Securities and Exchange Commission. That would mean the company wants to reduce its workforce by up to 16 percen...