Printer and computer manufacturer HP Inc plans to lay off 3,000 to 4,0000 of its employees the coming three years. The company wants to cut its costs now the demand for computers and printers is weak.
The company will eliminate positions across the board, Chief Executive Officer Dion Weisler said on Thursday. Almost a year ago, HP split its business into two entities, with HP Inc focused on PCs and printers and the other entity, Hewlett Packard Enterprise, concerned with commercial technology.
The numbers are a sizable chunk of a total workforce of around 50,000 people. Earlier this year the company also announced plans to cut 3,000 jobs by year's end.
HP said it expects the restructuring to generate $350 million to $500 million in charges and produce annual savings of $200 million to $300 million starting in fiscal 2020.
