After Twitter and Google, this big company's retrenchment created a stir, jobs of 6000 employees in danger
Retrenchment is going on in tech companies around the world. After Twitter, Meta, Amazon, another big tech company has decided to cut jobs. Laptop and electronics maker HP Inc is expected to cut around 6,000 jobs....
Retrenchment is going on in tech companies around the world. After Twitter, Meta, Amazon, another big tech company has decided to cut jobs. Laptop and electronics maker HP Inc is expected to cut around 6,000 jobs. However, it is a matter of relief that the company will not lay off all the employees at once. Rather this round of retrenchment may continue till the end of 2025. According to the report, with this retrenchment, the company is going to cut its global workforce by about 12 percent.
Layoffs will continue till 2025
HP Inc is currently providing employment to around 50,000 people. The company has announced that it will lay off around 4,000 to 6,000 employees in the coming years. The special thing is that the company has announced layoffs during the presentation of its financial year 2022 report. "The company expects to cut approximately 4,000-6,000 employees. The retrenchment process is expected to be completed by the end of 2025," the statement said.
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Decision taken after decrease in laptop sales
According to company sources, there has been a spurt in sales of HP's laptops and computer equipment during the Corona pandemic. But after the school offices opened after the pandemic, PC and laptop segment sales fell once again. Due to rapidly decreasing sales, the decision to cut jobs has come from the company.
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Fear of recession is haunting companies
Inflation and recession concerns in global markets can also be one of the deciding factors for layoffs by companies. Given these conditions, HP Inc. in the first quarter in view of weak demand. is expected to report lower-than-expected profits. Although the company has not yet clarified when this layoff will start in other global markets including India.
