The US computer manufacturer HP wants to cut around 4,000 to 6,000 jobs worldwide by the end of the 2025 fiscal year. The company announced on Tuesday after the close of trading that costs and other expenses of around one billion dollars (975.99 million euros) are likely to be incurred for the restructuring.
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.
Previously, other companies in the technology industry, such as Amazon and Meta, had announced plans to 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.