After a disappointing earnings report, the computer and software company HP is the latest big tech firm to trim its workforce. The company is looking to lay off 4,000 to 6,000 employees by the end of the fiscal year 2025, CNN reported Nov. 22.
The company's lackluster earnings report showed an 11 percent year-over-year sales decline.
HP President and CEO Enrique Lores said that the company's new direction will "enable us to better serve our customers and drive long-term value creation by reducing our costs and reinvesting in key growth initiatives to position our business for the future."
Previously, HP has been reported to have 51,000 global employees.