Multinational information technology company, Hewlett-Packard, has announced plans to lay off about 4000-6000 workers globally within the space of two years. In a press release shared via the company website on Tuesday, the computer manufacturing firm stated that the lay-offs were part of its “Future Ready Transformation Plan,” to save costs and ensure “portfolio optimisation and operational efficiency”. The transformation plan is expected to run its course till the end of 2025 fiscal year. The statement read in part, “Today, HP Inc. announced a fiscal year 2023 Future Ready Transformation plan, driving significant structural cost savings through digital transformation, portfolio optimization and operational efficiency. These actions are expected to be completed by the end of fiscal 2025.”The company’s announcement comes amid a slew of employee cuts in the global tech industry.

Source: Punch November 24, 2022 02:14 UTC