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HP to Lay Off 6,000 Workers in Subsequent Three Years in Price Slicing Plan

PC-maker Hewlett Packard on Tuesday mentioned it could layoff as many as 6,000 workers over the following three years because the slumping world financial system continues to embroil the US tech sector.

HP, which has a payroll of about 61,000 folks, mentioned it aimed to safe $1.four billion (roughly Rs. 11,447 crore) in annual financial savings via 2025 because it adopted the cost-cutting path of different tech giants resembling Fb-owner Meta, Amazon and Twitter.

The plan “will allow us to raised serve our prospects and drive long-term worth creation by lowering our prices and reinvesting in key development initiatives to place our enterprise for the longer term,” HP CEO Enrique Lores mentioned in an announcement.

Meta mentioned earlier this month it should lay off greater than 11,000 of its employees and Twitter noticed half of its 7,500-strong workers culled simply days after the corporate was taken over by billionaire Elon Musk in late October.

“These are the hardest choices we’ve got to make, as a result of they impression colleagues we care deeply about. We’re dedicated to treating folks with care and respect…” an HP spokesperson mentioned in an e mail to AFP.

HP, which makes pc {hardware} and printers, introduced the layoff plan because it introduced an 11.2 p.c fall in revenues to $14.eight billion (roughly Rs. 1,21,050 crore) for the ultimate fiscal quarter of 2022.

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