Business Insider: HP to lay off 6,000 employees due to falling demand for PCs
The fall in demand for computers forced HP to start layoffs among the staff. This is reported by Business Insider.
Portal journalists referred to a statement by HP, in which a major computer manufacturer spoke about a sharp decline in demand for PCs. In this regard, the company was going to lay off from 4,000 to 6,000 employees by 2025. HP estimates that the restructuring will cost about $1 billion, but the cuts will save the corporation $1.4 billion a year by the end of fiscal year 2025.
According to journalists, the decision to lay off followed the background of “gloomy” financial results in the fourth quarter. HP’s revenue fell 11 percent year on year to $14.8 billion. This is due to the fact that the demand for PCs and technical equipment has fallen sharply after the peak of the COVID-19 pandemic.
The authors stressed that HP has become the latest company in the “doomed to die” technology sector, which announced a reduction in staff. One of the main competitors of HP – Dell – also predicted a further decline in demand for computers.
In November, DigiTimes reported that combined sales of Windows laptops from the top five manufacturers were down 40 percent year-over-year. The Lenovo brand became the sales leader in October, followed by HP.
Source: Lenta
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