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  • 10.13.16

HP will cut up to 4K jobs as PC sales slump

The company said Thursday it’ll eliminate between 3,000 to 4,000 jobs over the next three years to cut costs. The company isn’t doing enough PC business to support its current expense load, it said. As many as 1,000 could be outsourced, the company said at an analyst pow-wow Thursday. 

•HP has about 50,000 employees now.

•HP shares fell 1.3% during trading hours Thursday, then another 1.8% in after hours trading. 

•The company believes the job cuts will save it between $200 million and $300 million annually starting in fiscal 2020. MS