Seems like PC-maker Hewlett Packard is also following the cost-cutting path of other tech giants like Facebook-owner Meta, Amazon and Twitter as it announced that it would layoff as many as 6,000 employees over the next three years.
According to reports, HP, which has a payroll of about 61,000 people, said it aimed to secure $1.4 billion in annual savings through 2025.
HP CEO said in a statement that the move will enable to better serve customers and drive long-term value creation by reducing our costs and reinvesting in key growth initiatives.
HP, which makes computer hardware and printers, announced the layoff plan as it announced an 11.2 percent fall in revenues to $14.8 billion for the final fiscal quarter of 2022.