HP Inc. has announced it will lay off between 4,000 and 6,000 staff as part of a cost-cutting drive aimed at adding $1.4 billion to its bottom line in coming years.
The PC and printer purveyor revealed the plan along with its Q4 2022 results, which saw $14.8 billion of revenue arrive – a year-on-year fall of 11 percent (and eight percent in constant currency) – and $1.3 billion of operating profit. For the full year, revenue dipped one percent to $63 billion and operating profit landed at $6.6 billion. The company's printers delivered $3.7 billion of that profit on $18.9 billion revenue – rather better performance than the $2.9 billion profit from $44.1 billion of PC-related revenue.
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