HP laying off 4,000-6,000 employees globally over the next three years

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 is responding after a deterioration in the sales of computers, which followed brought on by the Covid pandemic, where people rushed to buy computers to work and play from their homes.

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