Palo Alto, California-based HP, the iconic hardware and software maker, has announced a major multi-year restructuring program that can result in a dramatic reduction in force of up to 9,000 employees.
According to a company statement …
“We are taking bold and decisive actions as we embark on our next chapter,” said Enrique Lores, incoming President and Chief Executive Officer, HP Inc. “We see significant opportunities to create shareholder value and we will accomplish this by advancing our leadership, disrupting industries and aggressively transforming the way we work. We will become an even more customer-focused and digitally enabled company, that will lead with innovation and execute with purpose.”
“HP Inc. announced a fiscal year 2020 restructuring plan to simplify its operating model and become a more digitally enabled company. The company expects to reduce gross global headcount by approximately 7,000-9,000 employees through a combination of employee exits and voluntary early retirement. The company estimates that these actions will result in annualized gross run rate savings of about $1.0 billion by the end of fiscal 2022.”
For those wishing to access a webcast of the formal presentation with financials, it can be found at www.hp.com/investor/SAM2019.
As the company moves beyond personal computers and printers toward end-to-end services to consumers, one might consider the creation of an online “cloud” system with hosted applications and accessible with a lightweight browser.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?