HP to Lay Off 2000 Workers in India to Save Rs 2600 Crore

According to an SEC report released on Thursday, Hewlett-Packard (HP) is planning to cut its workforce by a substantial number in an effort to save money. The technology giant intends to reduce its global workforce of 58,000 employees by up to 2,000 individuals.

The company’s SEC filing indicates that HP is expecting to lay off between 1,000 and 2,000 employees worldwide. The number of employees affected in each country will be adjusted based on local rules and regulations, as well as consultations with employee representatives.

The plan is for the layoffs to take place before the end of HP’s fiscal year in October. This move is estimated to save the company approximately $300 million. While the specific details of which departments and job positions will be impacted by the layoffs have not been publicly disclosed, HP’s CEO, Enrique Lores, mentioned that the cuts will be spread across the organization.

Lores stated that HP has been strategic and careful in deciding where to implement these job cuts. In addition to the layoffs, the company is reallocating its resources and investing in areas such as artificial intelligence and customer experience.

The decision to reduce its workforce is part of HP’s larger cost-cutting initiative known as “Future Now.” This initiative aims to enhance HP’s operational efficiency and financial performance by streamlining its workforce and focusing on key areas of growth and innovation.

HP’s restructuring plan is a strategic move to adapt to changing market dynamics and economic challenges. By making these difficult decisions now, the company hopes to position itself for long-term success and sustainability in the ever-evolving technology industry.