HP to Cut About 12 Percent Jobs by End of Fiscal 2025

HP to Cut About 12 Percent Jobs by End of Fiscal 2025
The logo for The Hewlett-Packard Company on a screen on the floor of the New York Stock Exchange (NYSE) on June 27, 2018. Brendan McDermid/Reuters
Reuters
Updated:

HP Inc. said on Tuesday it expects to cut up to 6,000 jobs by the end of fiscal 2025, or about 12 percent of its global workforce, at a time when sales of personal computers and laptops are sliding as shoppers tighten budgets.

The PC maker also forecast a lower-than-expected profit for the first quarter as it expects softness in both consumer and commercial demand.