HP, Bay Area tech mainstay, to lay off up to 6,000 people

HP, Bay Area tech mainstay, to lay off up to 6,000 people
HP, the hardware tech company that remains a massive mainstay in the Bay Area, announced this week that it would conduct layoffs over the next three years — with a bulk of them happening this fiscal year.As part of a restructuring plan HP calls the “Future Ready strategy,” the Palo Alto-headquartered computer and peripherals manufacturer hopes to save at least $1.4 billion by the 2025 fiscal year, according to its earning notice posted this week. Part of this plan is cutting up to 6,000 jobs by that point. A majority of these layoffs, according to the earnings notice, will take place in the 2023 fiscal year — with “the rest split approximately equally between fiscal 2024 and 2025.” The company anticipates that it will spend about $600 million in “restructuring” in the 2023 fiscal year and $200 million each in 2024 and...