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HP to cut up to 6,000 jobs

(Reuters) -HP Inc said on Tuesday it expects to reduce its global headcount by about 4,000 to 6,000 by the end of fiscal 2025. The PC maker estimates it will incur about $1.0...
HP to cut up to 6,000 jobs © Reuters. FILE PHOTO: The logo for The Hewlett-Packard Company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid/File Photo
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(Reuters) -HP Inc said on Tuesday it expects to reduce its global headcount by about 4,000 to 6,000 by the end of fiscal 2025.

The PC maker estimates it will incur about $1.0 billion in labor and non-labor costs related to restructuring and other charges, with nearly $0.6 billion in fiscal 2023 and the rest split between the following two years.

The restructuring comes at a time when most companies including Amazon.com Inc (NASDAQ:AMZN), Facebook (NASDAQ:META)'s parent Meta Platforms Inc and Cisco Systems Inc (NASDAQ:CSCO) are making deep cuts to their employee base to navigate a potential downturn in the economy.

HP (NYSE:HPQ) also reported a 11% fall in fourth-quarter revenue to $14.8 billion. Shares of the company were down 1.2% in extended trading.

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08-12-2022 09:04:31 (UTC+7)

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    EUR/USD 1.0501 Neutral  
    GBP/USD 1.2185 Buy  
    USD/JPY 136.82 Neutral  
    AUD/USD 0.6708 ↑ Sell  
    USD/CAD 1.3677 Buy  
    EUR/JPY 143.68 ↑ Sell  
    EUR/CHF 0.9890 ↑ Sell  
    Gold 1,794.15 ↑ Sell  
    Silver 22.740 ↑ Sell  
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    Crude Oil WTI 72.62 Neutral  
    Brent Oil 77.71 Buy  
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    US Coffee C 160.00 Neutral  
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    FTSE 100 7,489.19 ↑ Sell  
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    IBEX 35 8,290.50 ↑ Sell  
    BASF 47.425 ↑ Sell  
    Bayer 52.80 ↑ Sell  
    Allianz 203.65 ↑ Sell  
    Adidas 117.56 ↑ Sell  
    Lufthansa 7.639 ↑ Buy  
    Siemens AG 132.90 ↑ Sell  
    Deutsche Bank AG 9.966 ↑ Sell  
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