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.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62.09 - Other information technology and computer service activities
3,000 - 4,000 jobs Number of planned job losses
Announcement Date
14 October 2016
Employment effect (start)
1 January 2017
Foreseen end date
31 December 2019
Description
The PC manufacturer HP Inc., a former division of Hewlett Packard Enterprise that became independent in 2015, has announced plans to cut 3,000 to 4,000 positions worldwide over the next three years. Last year, Hewlett Packard Enterprise announced 25-30,000 job cuts, following a further 55,000 jobs cut since the current CEO, Meg Whitman, took over in 2012. The aim is to help the company to bring costs in line with the drop of demand in the market for personal computers and printers. The US based company has not yet announced where these job cuts will take place. HP said the job cuts will generate cost savings of about $200 million to $300 million (€180.3million to €270.5 million) annually starting in fiscal year 2020. The computer maker expects to take $350 million to $500 million (€315.6 million to € 450.8 million) in charges related to the plan, and of that total about $200 million(€180.3 million) will be labour costs. In September 2015, Hewlett Packard announced a plan to cut 25-30,000 jobs from its HP Enterprise division (see ERM factsheet) before to split the company in two, HP Inc. (PC, printer and software makers) and Hewlett Packard Enterprise (data centre, company services). The new 3,000 to 4,000 job cuts are on top of a previous job cuts announcement earliest this year of 3,000 job cuts.
Sources
13 October 2016: Bloomberg
14 October 2016: Les Echos
Citation
Eurofound (2016), HP Inc., Internal restructuring in World, factsheet number 89019, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89019.
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