HP Will Cut Up To 4,000 Jobs Over Three Years
Struggling PC company Hewlett Packard, who have made millions in losses in Australia, have now moved to sack 3,000 employees in an effort to cut losses.
Earlier today the company disclosed in a meeting with analysts that cuts which will affect Australia could reach as many as 4000 people. In Australia HP has reported nearly $1 billion in losses during the past five years.
They are the same company who were also buying over $3 million by the Australian Competition and Consumer Commission over questionable warranty claims.
HP said it expects the restructuring to generate US$350 million to US$500 million in charges.
Dion Weisler, HP’s chief executive, stressed that the company is taking market share in personal computers and expects to spur long-term growth in printers despite recently trying to force customers to buy expensive HP ink by installing software that prevented the use of third-party inks in HP printer.
The company in September agreed to buy Samsung Electronics printer business for $1.05 billion, a deal designed to bolster HP’s offerings in high-volume devices that handle both printing and copying for office work groups.
Still, Mr. Weisler acknowledged that demand remains weak in both businesses. “As I look forward to 2017, our assumptions are that the markets are going to continue to be pretty challenged,” he said.