HP Announces Mega Firing Spree With Plans To Reduce Workforce By Several Thousands

We saw Elon Musk eliminate 3,500 workers in one go through a single email and then we saw the likes of other tech giants like Meta and Snapchat follow in his footsteps with a similar decision.

Now, we’re seeing one of the biggest PC producers eliminate jobs by nearly 4,000 to 6,000 by next year’s end. And that is what makes it the latest company to begin a firing spree of thousands. The news comes as more economic uncertainty rises as we speak.

The sudden news of the layoffs that the firm mentioned along with a mega 11% drop in sales this quarter comes just one month after experts from the industry saw both IDC and Gartner warn that the demand for tech products like computers was running at an all-time high and even dropping at a pace that wasn’t seen in decades.

Speaking during a recent interview with the Wall Street Journal, the CEO mentioned how this is the point where it’s integral to mention that things won’t be taking a massive turn in 2023.

The massive layoff taking place makes it the biggest string in terms of tech giants reducing the workforce after a very sour economy. It has been marked by huge inflation that has caused a massive dent in the firm’s profits and demand for products. Similarly, there is reduced ad spending taking place and even those occurring are happening at the slowest of speeds.

Meanwhile, other huge names in the industry like Facebook, Google, and Apple have even put a halt on their hiring and reduced staff during times of the pandemic. Moreover, Twitter has really taken the lead in this regard after Musk’s acquisition of the firm.

Then we’ve got HP appearing to take a huge hit after the demand for PCs jumped during times of remote working. At this time, the pandemic was at its peak. Moreover, the only firm that really went ahead and beat them was leading iPhone maker Apple.

It has carried on with its reporting of record sales and has even driven forward due to new laptops and even tablets in the market today.

But the news is definitely very in line with the trend taking place in other tech firms and it was only a long time coming, confirmed experts.

Read next: Top Platforms Are Hiring Former Twitter Employees Who Were Fired By Elon Musk
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