HP plans to cut up to 6,000 jobs

Bangalore The US computer manufacturer HP wants to cut around 4,000 to 6,000 jobs worldwide by the end of the 2025 financial year. Costs and other expenses of around one billion dollars are likely to be incurred for the restructuringthe company announced on Tuesday after the market closed.

For the fourth quarter, HP announced a decline in sales by eleven percent to $14.8 billion. In after-hours trading, HP shares fell 1.2 percent.

Other companies from the technology industry such as Amazon and Meta had previously announcedto lay off employees due to a likely economic downturn. Hewlett-Packard split up in late 2015. In addition to HP Inc, the Hewlett Packard Enterprise (HPE) division also operates independently, in which server and storage services are bundled.

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