HP Inc. said Thursday it plans to eliminate between 3,000 and 4,000 jobs over the next two years as it restructures amid falling sales.
The company had 287,000 employees worldwide at this time last year. HP said the job cuts will save between $200 million and $300 million annually.
Through the first three quarters of its current fiscal year, HP’s revenues totaled $35.7 billion, down from $39.2 billion in the same period a year earlier. Profits totaled $783 million, down from $854 million the prior year.
HP Inc. took the personal computer and printer businesses from Hewlett-Packard Corp. when that company split in two last year. HP eliminated 3,300 jobs then in connection with that separation.
HP’s printer group has substantial operations in Vancouver and Corvallis, Ore. After years of job cuts HP is expanding the Vancouver site as it pushes into 3-D printing, hoping to offset the decline in demand for conventional printers.
