INTERNATIONAL – US personal computer maker HP Inc said on Thursday it will cut up to 16 percent of its workforce as part of a restructuring plan aimed at cutting costs.
The company will cut about 7,000 to 9,000 jobs through a combination of employee exits and voluntary early retirement, it said in a statement.
HP estimates the plan will result in annual gross run rate savings of about $1 billion(R15bn) by the end of fiscal 2022, it added.
The company had about 55,000 employees worldwide as of Oct. 31, according to a filing with the US Securities and Exchange Commission. That would mean up to 16 percent targeted in the cuts, Reuters calculation showed.
In connection with the restructuring, HP said it expects to incur an overall charge of about $1 billion, of which $100 million will be realized when it reports its fourth-quarter earnings.