HP to cut up to 6,000 jobs over three years as PC demand falters

By Brody Ford | Bloomberg

HP Inc. will eliminate as many as 6,000 jobs over the next three years amid declining demand for personal computers that has cut into profits.

Earnings, excluding some items, will be $3.20 to $3.60 a share in the fiscal year ending in October 2023, HP said Tuesday in a statement. Analysts, on average, projected $3.61 a share, according to data compiled by Bloomberg. Free cash flow will be about $3.25 billion, which also falls short of estimates.

The forecast assumes a 10% decline in computer sales in the fiscal year, Chief Executive Officer Enrique Lores said in an interview. “We expect a challenging market environment,”

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

Read what a judge told Elizabeth Holmes before sending her to prison for 11 years

Enlarge this image U.S. District Judge Edward J. Davila, left, sits...

A Complete Guide to Outbound Marketing Strategy

Opinions expressed by Entrepreneur contributors are their own. Outbound marketing is a type of advertising where a company directly reaches out to...

Bad toys: What to avoid to keep your kids alive this holiday season

Happy holidays! Ready to shop for the kids and grandkids? Hmph. Neither are we. But we adjust our reindeer antlers, “ho ho ho” merrily,...