Join our Waitlist for Expert Advice!

HP To Cut Around 6000 Jobs Globally In Next Few Years The move comes at a time when the personal computers and laptops were witnessing a demand decline

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

HP Twitter handle

Hewlett-Packard (HP), on Tuesday, said that it might lay off more than 6000 employees by the end of the 2025 fiscal, reducing its global workforce by roughly 12 per cent, according to a report by Reuters.

The move comes at a time when the personal computers and laptops were witnessing a demand decline. In its quarterly earnings statement, the company said it expects to reduce the gross global headcount by approximately 4000 to 6000 employees.

"These actions are expected to be completed by the end of the fiscal 2025," said the company in a press statement announcing its quarterly results.

As per reports, the company estimates that it will incur around $1.0 billion in non-labour and labour costs related to restructuring and other charges. $600 million of this HP expects to incur in the 2023 fiscal year and the rest in the following years.

HP expects that both commercial and consumer demand for its product may decline further and has forecast lower profits for the first quarter. The chief financial officer of HP, Marie Myers, in a news report was quoted as saying during a post-earnings call, "Many of the recent challenges we have seen in FY'22 will likely continue into FY'23."

As per reports, the current known workforce strength of HP is valued at 51,000 members worldwide.

HP CEO and President, Enrique Lores, as quoted by FE, said that, "The company's 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."

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Side Hustle

At 16, She Started a Side Hustle While 'Stuck at Home.' Now It's on Track to Earn Over $3.1 Million This Year.

Evangelina Petrakis, 21, was in high school when she posted on social media for fun — then realized a business opportunity.

Business News

'Major Impact': Here's What the Big Four Firms Have to Say About the 2024 Election

The Big Four consulting firms conducted surveys and gathered data to garner what business leaders were thinking ahead of the election. Here are the results.

Growing a Business

PR vs. Marketing — Which One Delivers Better ROI for Your Business?

PR builds trust and credibility over time, while marketing drives short-term sales through targeted campaigns, making both essential for business success, depending on goals and budget.

Leadership

Skip the Small Talk — Use This Powerful Tool to Build Meaningful Relationships and Create Lasting Change

Unlock the power of public narrative and discover why it's important for entrepreneurs to reflect on the experiences and values that have shaped them and led them to do what they do.

Business News

The Trade Battle is Heating Up — Here's How Smart Businesses Are Preparing for Tariff Wars and Trade Negotiations

As businesses brace for political shifts and changing trade rules, here's how to protect your supply chain and stay ahead of rising costs.

Business News

San Francisco's Train System Is Still Run on Floppy Disks. It May Finally Get an Upgrade.

Officials approve a $212 million plan to replace its wildly outdated train control system.