HP Inc. is set to lay off an additional 2,000 employees as part of its ongoing restructuring and cost-cutting strategy. This move brings the total number of job cuts to 9,000 as the company works to streamline operations under its “Future Now” initiative.
The IT giant, which employs approximately 58,000 people across 59 countries, outlined its latest workforce reduction in a Securities and Exchange Commission (SEC) filing. The company stated that layoffs would vary based on local regulations and consultations with employee works councils and representatives.
HP’s cost-cutting strategy is designed to improve efficiency and adapt to market conditions. The latest layoffs come amid broader industry trends of tech firms reducing workforce sizes in response to economic pressures.
While HP has not provided specific details on which departments or locations will be most affected, the restructuring aims to position the company for long-term sustainability. The company remains focused on investing in strategic areas while balancing financial stability.
This latest round of job cuts reflects a larger trend in the tech sector, where companies are adjusting their workforce to align with shifting market demands.