HP Inc. plans to cut 3,000 to 4,000 jobs over the next three years
HP Inc. says it will cut 3,000 to 4,000 jobs over the next three years as it faces continued challenges in the markets for personal computers and printers.
The cuts are in addition to 3,000 jobs that HP previously said it was trimming this fiscal year. The company has about 50,000 employees worldwide.
The cuts will occur across the company, said HP spokeswoman Vanessa Yanez, who added that the Palo Alto company does not break out this information by location.
HP has been grappling with shrinking demand for PCs and printers as more people use smartphones and store documents and photos online. Chief Executive Dion Weisler hopes to build the business by selling more high-end PCs, office printers and 3-D printing systems.
HP Inc. is one of two companies formed last year by the breakup of Hewlett-Packard Inc. The other, Hewlett Packard Enterprise Co., primarily sells servers and other data-center technology; HP Inc. retained the personal computer and printer operations. At its height, the combined HP generated more than $100 billion in annual revenue.
Weisler said in a statement Monday that the split “enabled us to become nimble and focus on accelerating growth and reinventing industries.”
Last month, HP announced it was buying Samsung Electronics Co.’s printer business in a deal worth $1.05 billion, the largest printing acquisition in HP’s history.
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FOR THE RECORD:
5:05 p.m.: An earlier version of this story misstated that HP announced layoffs in its quarterly earnings report. The announcement was made as part of the company’s 2017 fiscal outlook.
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Times staff writer Tracey Lien in San Francisco contributed to this report.
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UPDATES:
3:50 p.m.: This article was updated with comments from HP spokeswoman Vanessa Yanez and CEO Dion Weisler, earnings results and additional background information.
This article was originally published at 2:45 p.m.
