Additional Job Cuts in Store at HP Inc.
Bloomberg reports that HP Inc. has increased its planned job cuts to 4,500 to 5,000 employees by the end of 2019. This is about 1,000 more than the company had estimated as part of a reorganization it announced almost two years ago.
HP Inc. will incur pretax restructuring charges of about $700 million for the job cuts, an increase from the original estimate of $500 million, HP Inc. stated yesterday in a regulatory filing. During a conference last week, HP Inc. executives had said they were expanding the job cuts that began in fiscal 2017. As of October 31, 2017, HP Inc. had 49,000 employees.
More Resources
- May 2018: A Closer Look at HP Inc. Financials, Samsung Integration, More
- May 2018: HP Continues to Report Strong Revenue Growth, Raises Forecast
- February 2018: HP ‘Strong out of the Gate’ for First Quarter
- November 2017: HP Reports Third Consecutive Quarter of Revenue Growth, Raises Forecast
- November 2017: Industrial/Professional 3D-Printer Shipments Set for Growth as HP Inc., GE Move Into Global Top Five
- November 2017: Printer Sales Down in Western Europe, But HP Makes Gains
- November 2017: It’s Official: HP Completes Acquisition of Samsung’s Printing Business
- October 2017: HP: Full-Color 3D Printing, 3D-Metal Printing for Manufacturing on the Way
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