As per report hp Inc that employs 55,000 globally, has drawn up a plan to lay off 16% of its workforce. Reportedly this comes up to nearly 7,000 to 9,000 jobs that will be cut in the company and these may be done through a mix of straight forward firing and in some cases early voluntary retirement.
Furthermore these changes come in as Enrique Lores takes over at hp as the new CEO once the current incumbent Dion Weisler leaves on November 1. Further in an official statement by the Palo Alto, California based company has shared more details. Meanwhile the reduction in workforce may result in a total saving of about $1 billion spread over three years.
remaining $400 million will be reflected in the results of 2021 and 2022. Perhaps the company has also
made a profit projection for the next fiscal 2020 saying it would be in the
$2.22 to $2.32 per share. Apparently the key issue that the
company will have to contend with is the falling sales graph as far as its printing unit is
concerned and this is the company’s main
business (HP Inc has separated from Hewlett Packard Enterprise Co in 2015) and
can affect its overall profitability, one of the reasons behind this 16% staff