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PC and printer major HP Inc. announced that it is planning to layoff 4,000 – 6,000 employees over the next 3 years which accounts between 7-11 percent of its workforce. The fourth-quarter earnings report has shown a year-over-year revenue drop of 11.2 percent to $14.8 billion.
HP CEO Enrique Lores said on an earnings conference call with the analysts stated that it was a toughest decision to make as it involves the colleagues. HP said in a statement that the layoff process will be completed by the end of 2025.
However, HP in the statement revealed that they will stand by the side those who lose their jobs and help them financially and in terms of career services so that they can get another chance.
