Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Instagram Outage Disrupts Thousands of U.S. Users 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Hewlett Packard Inc. revealed this week that it would have to lay off thousands of employees over the next three years. The tech company said that these job cuts will affect 4,000 to 6,000 people in its offices and facilities worldwide.
While this is not good news, it was reported that Hewlett Packard’s shares increased as much as one percent in extended trading after the upcoming layoff was announced, according to CNBC. The company employs about 51,000 workers as of October 2021 so the cuts appear to be just a small part of its total workforce.
With this decision, HP has become the latest firm in the tech sector to announce plans to reduce the number of staff. Mostly, companies made the hard decision of letting go of employees due to the current state of the economies around the world. They faced challenges because of the rising costs and other financial issues, with some still being related to the COVID-19 pandemic, which drove many businesses into bankruptcy.
In fact, Microsoft, Google, and Meta are big names, but they, too, have started terminating thousands of employees due to the same reasons. In Hewlett Packard’s case, it is laying off some people as the sales of computers have slowed down and continue to decline. This situation started after the consumers’ buying spree for computers at the height of the pandemic since they were forced to stay at home.
“HP Inc. announced the fiscal year 2023 Future Ready Transformation plan, driving significant structural cost savings through digital transformation, portfolio optimization, and operational efficiency,” HP said in a press release for its fiscal 2022 full year and fourth quarter results report where it also announced an increase in dividend and its transformation plans.
Hewlett Packard further stated, “The company estimates that it will incur approximately $1.0 billion in labor and non-labor costs related to restructuring and other charges, with approximately $0.6 billion in fiscal 2023, and the rest split approximately equally between fiscal 2024 and 2025 and we expect to reduce gross global headcount by approximately 4,000-6,000 employees. These actions are expected to be completed by the end of fiscal 2025.”
Photo by: Mika Baumeister/Unsplash
