HP plans to cut up to 4,000 jobs in next 3-4 years

HP plans to cut up to 4,000 jobs in next 3-4 years

During the course of a meeting with analysts in New York on Thursday, bigwig PC and printer manufacturer HP Inc. said that it plans to lay off up 4,000 employees over the next 3-4 years.

HP Inc. was formed a year back, in the breakup of Hewlett-Packard Co. Into two entities; the other one being Hewlett Packard Enterprise, which is chiefly focused on commercial technology. Ever since its formation last year, HP - which has a workforce of almost 50,000 employees - has already laid off nearly 3,000 employees.

In announcing HP's latest job-cut plans in the coming 3-4 years, Dion Weisler - the company's President and CEO - said that the 3,000 to 4,000 employees who will be removed from the company's payroll will include employees working in departments throughout the company.

HP is hopeful that some of the employees who will be affected by the imminent job cuts will probably remain in similar jobs at separate companies which will take charge of some HP operations on an outsourced basis.

Meanwhile, against the backdrop of the planned job cuts affecting around 4,000 employees, Weisler said in a financial outlook statement that HP is "confident" in its strategy and believes that it will "continue to produce reliable returns and cash flow," as well as "invest in differentiated innovation and long-term growth."