Yesterday, it was reported that the PC industry is on a two-year downslide
as PC shipments have declined for eight consecution quarters. Today, HP announced it will cut between 3,000 and 4,000 jobs
over the next three years due to the PC slump. Bloomberg reports: The company will eliminate positions across the board, Chief Executive Officer Dion Weisler said on Thursday. The comments came as HP held its analyst meeting in New York. The reductions could include 1,000 jobs being outsourced if the number of positions edges close to 4,000, Chief Financial Officer Cathie Lesjak said. Weisler is searching for additional ways to drive profitability after his PC company gained independence last year from Hewlett Packard Enterprise, which sells corporate tech gear. Earlier this year, Weisler said HP would need to accelerate a plan announced in 2015 to eliminate about 3,000 positions over three years. Instead, those reductions are to be completed this fiscal year. HP has about 50,000 employees now. HP said the newest job cuts will generate cost savings of about $200 million to $300 million annually starting in fiscal 2020. The Palo Alto, California-based computer maker expects to take $350 million to $500 million in charges in connection with the plan, and of that tool about $200 million will be labor costs, according to a regulatory filing.