After Meta, Twitter, Amazon, now HP has also decided to lay off its employees. The company will lay off 6,000 employees by 2025. About 50,000 people are currently working in HP Inc.
New Delhi. The process of layoffs in tech companies has not stopped yet. After Meta, Twitter, Amazon, now HP has also made up its mind to send its employees home. It is being said that laptop and electronics manufacturer HP may lay off 6,000 of its employees, but this layoff will not happen at once. According to the information received, by 2025 the company will reduce its workforce by 6,000.
About 50,000 people are currently working in HP Inc. The 6,000 layoffs mean that the company will cut its global workforce by 12 per cent. The company has announced that it will lay off around 4,000 to 6,000 employees in the coming years.
HP has given this information in its FY 2022 report. It said, “The company is expected to reduce around 4,000-6,000 employees globally. This work is expected to be completed by the end of the financial year 2025.
Why companies are resorting to layoffs
There was a tremendous jump in the sales of PC and laptop segment during the epidemic, but now it has cooled down. Keeping this in mind, the company has decided to cut jobs. The same condition is also with other companies, who cut a lot of silver due to lockdown and work from home during Corona and now that everything has started opening up, these companies are doing layoffs.
Apart from this, the concern of inflation and recession in the global markets can also be one of the deciding factors. Given these conditions, HP Inc. is expected to report lower-than-expected first quarter profits.
Significantly, Facebook (Meta) fired 11,000 employees 2 weeks ago due to lack of growth. Among those affected in this were people from many countries around the world including India.