HP Discloses Up To 1,000 Additional Job Cuts
It was a tough week for HP Inc. workers who learned this week that the company has increased by 500 to 1,000 positions the number of job cuts it plans as part of its restructuring plan.
In October 2016 the company disclosed a plan to cut its workforce by 4,000 positions by the end of fiscal 2019. But in a recent filing with the U.S. Securities and Exchange Commission, the company said it now expects "approximately 4,500 to 5,000 employees to exit by the end of fiscal year 2019," which runs through Oct. 31, 2019.
The restructuring plan is aimed at helping HP save money and focus on innovation.