Computer maker HP Inc. said Tuesday that it plans to cut 4,000 to 6,000 employees over the next three years. Shares rose as much as 1% in extended trading following the announcement.
HP is the latest technology company to announce its intent to slim down given economic challenges. Facebook parent Meta, Microsoft and Salesforce are among those that have made similar changes. HP, for its part, is responding to a deterioration in computer sales. At first the Covid pandemic brought a PC buying frenzy as people rushed to work and play from their homes. But the sensational growth did not hold up.
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