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Tuesday, November 29, 2022

Layoff: Now laptop company HP is going to lay off, 6000 employees will be employed

HP Layoffs: In the recent past, the news of Hiring Freeze and Layoffs of many companies around the world are continuously coming to the fore. After , and , now another big tech company HP (Hewlett Packard) is planning to lay off its employees. HP is one of the largest US based computer manufacturing companies. The laptop, printer and electronics manufacturer said it plans to lay off 4,000-6,000 employees over the next three years.

According to CEO Enrique Lores, HP will reduce its real estate footprint and cut up to 10% of its global workforce over the next three years. Along with this, he said that there has been a decrease in the sales of the company’s products in the last 6 months. According to Laureus, the company expects a “challenging market environment”, but predicts a 10% decrease in computer sales during the fiscal year. Presently around 50000 employees work in HP. The third quarter saw global PC shipments fall by nearly 20%, the biggest decrease since Gartner Inc. began tracking the data in the mid-1990s. At the same time, it was told by the company that after a decline of 11.2 percent, the revenue of the fourth quarter has come down to $ 10.3 billion, while the company’s revenue was recorded at $ 14.8 billion in the same quarter last year.

Retrenchment of employees in HP

In view of the threat of recession looming in America, the HP company is already getting ready. Due to the work form home during the Corona epidemic, the sales of laptops and desktops increased, but in recent times the sales have come down significantly. At the same time, the concern of inflation and recession in the global market also seems to be a major reason for the layoffs of the tech company.

Let us tell you that in recent weeks many IT companies have revealed their intention to reduce their workforce. Platforms started laying off 11000 and Amazon about 10000 employees, announced more than half of its 7500 employees. The news has come out on the last day itself that Google’s parent company Alphabet may lay off 10,000 employees.

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