HP to cut as many as 6,000 workers

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HP to cut as many as 6,000 workers
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HP said its global headcount would drop by 4,000 to 6,000 workers over the next three years as part of its 'Future Ready Transformation plan.' A reduction of that size would shrink the company of 51,000 employees by about one-tenth.

HP plans to cut its headcount by as many as 6,000 workers, the tech company announced on Tuesday.its global headcount would drop by 4,000 to 6,000 workers over the next three years as part of its"Future Ready Transformation plan." A reduction of that size would shrink the company of 51,000 employees by about one-tenth.

While HP didn't specify if it plans to lay off workers or reduce headcount through attrition, the announcement mentioned severance costs and early-retirement expenses. HP projected it would pay $1 billion to laid-off workers or early retirees over the next three years, while saving"at least" $1.4 billion through lower expenses — for a net savings of $400 million over three years.

HP has struggled with falling demand for computers and expects sales to drop 10% this fiscal year, Chief Executive Officer Enrique Lores toldIn the year that just ended, HP spent $4.3 billion buying back its shares, and returned another $1 billion to shareholders in dividends, according to its

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