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HP Inc to cut about 7,000 to 9,000 jobs

HP Inc to cut about 7,000 to 9,000 jobs

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The logo for The Hewlett-Packard Company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid

(Reuters) – Personal computer maker HP Inc said on Thursday it will cut about 7,000 to 9,000 jobs as part of its fiscal 2020 restructuring plan.

HP estimates that the plan will result in annualized gross run rate savings of about $1.0 billion by the end of fiscal 2022, it said.

These actions are expected to be completed in fiscal 2022, the company added.

Reporting by Shubham Kalia in Bengaluru; Editing by Muralikumar Anantharaman

Our Standards:The Thomson Reuters Trust Principles.

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