HP to cut 3,000 to 4,000 jobs

SAN FRANCISCO — HP Inc. says it will cut an estimated 3,000 to 4,000 jobs over three years in a bid to reduce costs as demand for computers and printers slips.

The restructuring plan is expected to save  between $200 million and $300 million starting in fiscal 2020. HP anticipates about $350 million to $500 million in restructuring costs and other charges.

The tech giant made the announcement during its analyst meeting in New York on Thursday.

HP, which has about 50,000 employees, also issued a forecast for fiscal 2017. The company expects adjusted profit to be $1.55 to $1.65 a share. Analysts had expected $1.61 a share.

HP expects to increase its planned quarterly dividend by 7%.

Shares fell 2% in after-hours trading.


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