(KRON) — Hewlett Packard is the newest Bay Space tech firm to announce job cuts. On Thursday, the tech large introduced it might be reducing 2,000 jobs as a part of an modification to a present restructuring plan.
The restructuring plan, based on an SEC submitting, might be carried out by way of the tip of fiscal 2025 — across the finish of September. HP mentioned it expects the modification to the plan to generate financial savings of about $0.3 billion, for a complete of $1.9 billion from fiscal 2023 to the tip of fiscal 2025.
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The modification requires a workforce discount of between 1,000 to 2,000 workers, the submitting states. Modifications to workforce, HP mentioned, will range by nation based mostly on native authorized necessities “and consultants with employee works councils and other employee representatives.”
In keeping with the Wall Avenue Journal, Hewlett Packard employs round 58,000 employees in 59 completely different international locations. The corporate maintains its headquarters in Palo Alto.
Information of the HP layoffs follows information Thursday that San Francisco-based Autodesk can be slashing its workforce by 9 % — about 1,350 individuals.
