HP says it will lay off up to 6,000 workers over the next couple years | CNN Business

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HP Inc. announced that it will lay off thousands of workers over the next three years, becoming the latest tech company to significantly downsize staffing amid a souring economic climate

The computer maker disclosed the major job cuts in a statement accompanying its lackluster quarterly earnings report on Tuesday afternoon, where it also said sales dropped more than 11% compared to the same period last year. “The company expects to reduce gross global headcount by approximately 4,000-6,000 employees,” HP said. “These actions are expected to be completed by the end of fiscal 2025.” HP had previously reported having a global headcount of \n \n some 51,000 employees.

HP President and CEO Enrique Lores added in a statement that the company’s so-called “Future Ready strategy” will “enable us to better serve our customers and drive long-term value creation by reducing our costs and reinvesting in key growth initiatives to position our business for the future.” The news makes HP the latest in a growing list of once-high-flying tech companies that are now announcing significant job cuts.

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Thanks Joe Biden.

Blame elonmusk

BidenWorstPresidentEver

Talk about antiwhitism

Yay... More people got fired to protect the company's economy!

Couple of years 🤷‍♂️😂

Of course they waited until post-midterms to announce this.

Anyone who cared to open their eyes saw this tech bubble incoming, reminiscent of the late 80s/early 90s. Biden’s terrible economy just sped it along.

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