Job cutting plan expected to ease pressures later this year
Now remains a good time to buy a relatively cheap personal computer – not that pricing promotions are helping out the executive leaders at HP who are doing all they can to rapidly slash operating expenses.
With"macro volatility" continuing, the Personal Systems division felt much of the pain, down 24 percent to $9.2 billion: consumers and commercial were down 36 and 18 percent respectively. "However, levels remained elevated for us and across the industry. With that, combined with improved supply availability, pricing competition intensified incrementally in the quarter. Our backlog remains consistent with pre-pandemic levels and still skews favorably towards commercial higher-value units."
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