Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Hewlett Packard (HP) has announced a global restructuring, planning to reduce its workforce by 4000 - 6000 employees. This restructuring has been caused by a 'continued' drop in demand for commercial and consumer PC sales as well as lower than expected forecasts for 2023. The job cuts have been framed as part of the 'Future Ready Transformation Plan' for the company, which run for the next three years. Job cuts are said to begin at the start of the 2023 fiscal year. The departments which will be targeted have not been announced. However, Germany and America have been stated as the two primary locations where job reductions will occur.
A previous restructuring event has been recorded for HP in the ERM Events Database. In 2021, a planned business expansion of 150 jobs in Ireland was announced (HP-2021-IE).
Eurofound (2022), Hewlett Packard (HP), Internal restructuring in World, factsheet number 108160, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108160.