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HP says it will lay off up to 6,000 workers over the next two years

HP Inc. announced on Tuesday that it will lay off thousands of employees over the next three years, becoming the latest tech company to significantly reduce headcount amid a grim economic climate.

The computer maker disclosed the major job cuts in a statement accompanying its lackluster quarterly report on Tuesday afternoon, where it also said sales were down more than 11% compared with the same period last year.

“The company expects to reduce gross global headcount by approximately 4,000 to 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 around 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 to position our business for the future.”

The news makes HP the latest in a growing list of once-successful tech companies now announcing significant job cuts.

Meta, Facebook’s parent, recently said it was cutting 11,000 jobs across the company, and Amazon confirmed last week that sweeping layoffs had begun at the e-commerce giant that would continue into next year.

Source: CNN Brasil

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