it will lay off as many as 9,000 employees, or approximately 16% of its workforce. Shares reached a new intraday low for the year of $16.46., HP said it would cut between 7,000 and 9,000 jobs by the end of fiscal 2022. A portion of those employees are expected to accept voluntary buyouts. HP has about 55,000 employees worldwide, according to FactSet.
The layoffs are part of a broader restructuring plan that's expected to help the company save $1 billion a year by the end of fiscal 2022, the company said. The company will take roughly $1 billion in restructuring charges beginning in the fourth quarter. Enrique Lores, HP's incoming CEO, told Reuters that the reorganization will help the company advance toward its "next chapter."from the role "due to a family health matter." Lores will become CEO of the company effective Nov. 1.
HP also stated in the filing that it expects to report adjusted earnings between $2.22 to $2.32 per share for fiscal 2020. By comparison, analysts are expecting earnings of $2.23 per share, per FactSet.
Working class taxes paid for govt R&D that created automation.. .. that Capitalists use to destroy jobs. Bernie2020
Yeah, but if Cardinals gonna win today it gonna be announcment, uuuu, I'm telling you brother.
16 years with HP and suggest they has been 'lost' for many years. Compaq destroyed DEC and Tandem, then HP destroyed Compaq, Palm and many other acquisitions. It's clearly a leadership competency issue. Meanwhile back at the IBM camp.....booming.