The company will lay off between 4,000 and 6,000 employees by 2025

The list of Silicon Valley companies hit by the crisis continues to grow. The American maker of personal computers and printers HP announced on Tuesday that it will lay off between 4,000 and 6,000 employees by 2025.

The company currently has around 61,000 employees, some 10,000 more than a year ago. With the layoffs, she hopes to save $1.4 billion a year over the next three years.

Objective: “create value over the long term”

“This new strategy (…) will allow us to better serve our customers and create long-term value by reducing our costs and reinvesting in key areas for the future,” said an HP spokesperson. . In its 2022 fiscal year, which ended at the end of October, HP achieved a turnover of 63 billion dollars, down 0.8% over one year, from which it generated a net profit of 3.5 billion dollars, halved over one year.

Recently, Meta (Facebook, Instagram), Twitter, Lyft (driver-based car booking platform), Salesforce and Stripe (online financial services), among others, announced significant staff reductions. While the pandemic had largely benefited the tech sector, the economic crisis caught up with its companies, some of which had hired a lot, betting on strong growth over time.

source site