US HP Inc. on Tuesday (Nov. 22) announced its layoff plan to eliminate between 4,000 and 6,000 jobs over the next three years.
For its fiscal fourth quarter of 2022, HP reported US$14.8 billion in revenue, down 11 percent from the year-ago quarter. Revenue was down 8 percent when adjusted for currency.
The Silicon Valley company said sales in its computing business were down 13 percent last quarter and its printing revenue was down 7 percent year over year.
The US tech industry is cutting jobs as market demands and share prices fell, and the beneficial changes in consumer behavior during the COVID pandemic didn't persist. Amazon, Facebook, Twitter and many other large tech companies have all laid-off workers in recent weeks.
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