American company HP Inc plans to snatch 4,000 jobs

Photo related to Hewlett-Packard (HP) products.

San Francisco: An American multinational information technology company Hewlett-Packard (HP) Inc today said that is has decided to cut jobs in between 3,000-4,000 in the next three years.

The HP Inc chief executive officer Dion Weisler told media persons during a meeting in New York yesterday that the move, in addition to 3,000 layoffs that HP announced previously, is needed due to slumping demand for personal computers and printers.

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HP released its Financial Outlook report for fiscal year 2017 on the same day, which begins in November. It projected adjusted profit per share would be $1.55 to $1.65 in the new fiscal year, and cash flow of $2.3 to $2.6 billion.

The company has about 50,000 employees now, which splits last year from Hewlett Packard Enterprise, or HPE.

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Its chief financial officer Cathie Lesjak said if the cuts get up to the 4,000 level, about 1,000 jobs may be outsourced.

 

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