CRISIS With this decision, the American manufacturer hopes to save 1.4 billion dollars per year for the next three years
Hewlett-Packard printers in a store in the United States. — Copyright 2018 The Associated Press. All rights reserved.
The list of Silicon Valley companies hit by the crisis continues to grow. The American manufacturer of personal computers and printers HP has announced Tuesday that it would lay off between 4,000 and 6,000 employees by 2025.
The company currently has around 61,000 employees, some 10,000 more than a year ago. With the layoffs, it hopes to save $1.4 billion a year over the next three years.
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Goal: “Create value in the long term”
“This new strategy (…) will allow us to better serve our customers and create long-term value by reducing our costs and reinvesting in key areas. ;s for the future,” an HP spokesperson. In its 2022 fiscal year, ending at the end of October, HP achieved revenue of $63 billion, down 0.8% year-on-year, from which it generated net income of $3.5 billion, divided; by two over a year.
Recently, Meta (Facebook, Instagram), Twitter, Lyft (car booking platform with drivers), Salesforce and Stripe (online financial services), among others, announced significant staff reductions. While the pandemic had largely benefited to the tech sector, the economic crisis has caught up with its companies, some of which had hired a lot, betting on strong growth over time.