HP is cutting thousands of jobs as part of a sweeping restructuring plan.
The tech giant announced as part of it’s effort to streamline its operations, it will be reducing its workforce by 16-percent, or as many as 9,000 workers.
The company employs about 55,000 people. HP is hoping the move will save about $1 billion dollars by 2022.
This announcement comes on the heels of the printer and computer makers conclusion of it’s three year restructuring plan that eliminated 5,000 jobs.
The Palo Alto California company also announced its CEO Dion Weisler is stepping down at the start of November to focus on his family. Enrique Lores who currently runs HPs Imaging and Printing business, a $20 billion dollar revenue generator for the company.