*HP WILL CUT UP TO 6,000 JOBS, OR 12% OF ITS WORKFORCE, OVER THE NEXT THREE YEARS ON DECLINING PC DEMAND - $HPQ
-HP Inc said on Tuesday it expects to cut up to 6,000 jobs by the end of fiscal 2025, or about 12% of its global workforce, at a time when sales of personal computers and laptops are sliding as shoppers tighten budgets.
The PC maker also forecast a lower-than-expected profit for the first quarter as it expects softness in both consumer and commercial demand. "Many of the recent challenges we have seen in FY'22 will likely continue into FY'23," said chief financial officer Marie Myers during a post-earnings call. HP estimates it will incur about $1.0 billion in labor and non-labor costs related to restructuring and other charges, with nearly $600 million in fiscal 2023 and the rest split between the following two years.
The company, which employs nearly 50,000 people, said it expects to reduce headcount between 4,000 and 6,000.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HP to cut about 12% jobs by end of fiscal 2025HP Inc said on Tuesday it expects to cut up to 6,000 jobs by the end of fiscal 2025, or about 12% of its global workforce, at a time when sales of personal computers and laptops are sliding as shoppers tighten budgets.
Read more »
NFL Week 12 picks, predictions: Who wins each game on the Week 12 NFL schedule?The NFL Week 12 schedule could be a very important one as teams begin to fight for playoff berths and seedings.
Read more »
Pininfarina Battista 0-60 time, 2025 Audi A3: Car News HeadlinesPininfarina's electric hypercar, Audi's updated A3, and Mercedes' new subscription offers all made headlines today.
Read more »
2025 Audi A3 spy shotsAudi's compact sedan is about to be updated.
Read more »
2025 Mercedes-Benz EQG Prototype First Ride: The Electric G-Wagen!Look out, Jeep. Move over, Land Rover. This electric-powered G-Class is being engineered to be the world’s most capable off-road vehicle.
Read more »
2022 GMC Sierra, 2025 Porsche 718 EV: Today's Car NewsGMC's luxury pickup, Porsche's electric sports car, and a new “Bullitt” movie all made headlines today.
Read more »