HP Inc. computer manufacturing wing to slash up to 9,000 jobs


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HP Inc. computer manufacturing wing to slash up to 9,000 jobs

The Palo Alto, CA-based American multinational information technology company, Hewlett Packard Company, shortly dubbed as HP, had been exploring an option to trim between 7,000 to 9,000 jobs at its computer manufacturing division as a part of its restructuring move aimed at slashing expenses, which would mark up to 16 per cent of its entire global workforce.

Besides, the CA-based Hewlett Packard, founded in a one-car garage in Palo Alto by Bill Hewlett and David Packard to produce a line of electronic test equipment back in 1939, said in a statement later last week that the company’s latest overhaul, which included an axing of up to 9,000 jobs from its computer manufacturing section, would likely to save more than $1 billion by the end of 2021-2022 fiscal year.

Meanwhile, referring to HP Inc.’s latest move to cut off up to 9,000 jobs, Hewlett Packard’s new CEO, Enrique Lores, scheduled to take charge as managing director on November 1st supplanting Dion Weisler, said on Friday (October 4th), “We are taking bold and determined initiatives as we open a new chapter,” while the CA-based Group had also announced a share buyback program worth of $5 billion earlier.