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https://www.marketwatch.com/story/hp-to-slash-7000-to-9000-jobs-over-three-years-as-part-of-major-restructuring-2019-10-03 [marketwatch.com]

HP Inc. on Thursday announced a major restructuring that will eliminate 7,000 to 9,000 jobs over the next three years as part of a series of moves to transform the computing giant into a software and services powerhouse.

“This is one of the toughest decisions we had to make, but it is absolutely necessary for HP’s future,” incoming Chief Executive Enrique Lores told MarketWatch in a conference call with a handful of industry analysts. Lores and Chief Financial Officer Steve Fieler laid out a financial road map for the company’s fiscal year 2020 several hours before HP’s analyst day was to start.

The boldest move is a job reduction of up to 13% to 16% of HP’s 55,000 employees worldwide to save $1 billion in operation costs. Those savings, in turn, would be invested in software and services as HP attempts to “reinvent business,” Lores said.

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