HP is the latest tech company to announce extensive layoffs. Following a surge in demand for computing products amid pandemic-related lockdowns and restrictions, the computer vendor is readjusting as consumer demand for laptops and desktops falls.
In its Q4 and fiscal 2022 results shared Tuesday, HP announced that it will eliminate 4,000 to 6,000 jobs by the end of fiscal 2025.
According to CNBC, HP had about 51,000 workers in October of last year, so this week’s announcement is expected to affect around 7.8–11.8 percent of HP’s workforce.
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Source: Ars Technica – HP plans to cut up to 6,000 jobs amid plummeting PC demand