HP told analysts during its HP Securities Analyst Meeting that it isn’t finished shrinking the company’s workforce. It still plans to cut another 3,000- 4,000 jobs over the next three years.
The company also told Business Insider in an emailed statement:
“As part of our plan, during the next three years, we expect to implement both labor and non-labor restructuring activities, including 3,000 to 4,000 people exiting the company between FY17 and FY19. The range is related to the outcome of key outsourcing decisions. HP has strong record of success in placing employees in outsourced roles to mitigate the headcount number.”
And it updated its fiscal 2017 non-GAAP EPS guidance to $1.55 to $1.65. The street was expecting $1.61.
HP is the PC and printer company created after HP split into two companies in November 2015. Just before the split the company said it planned to trim 3,000 jobs in 2016, a goal its CEO Dion Weisler confirmed to analysts in February.
This will be an additional up to 4,000 jobs over the ones cut in 2016, the company said.
Prior to the split, HP had years and years of layoffs, cutting its workforce by more than 55,000 people, since 2012.
Since the split, both companies have continued to shed workers. At one point, the combined company employed about 300,000 people.