SAN FRANCISCO, Oct. 3 (Xinhua) -- U.S. leading technology company HP Inc. said Thursday it will cut 7,000 to 9,000 jobs worldwide in a fiscal year 2020 restructuring plan to streamline its operations for digital transformation in the future.
The massive lay-off, announced by the company at its 2019 Securities Analyst Meeting, will be carried out through a combination of employee exits and voluntary early retirement. The measure will save the personal computer (PC) hardware maker about 1 billion U.S. dollars when it is completed in fiscal year 2022.
The workforce reductions of the California-based company accounted for about 16 percent of its 55,000 total employees across the globe.
"We are taking bold and decisive actions as we embark on our next chapter," said Enrique Lores, who was appointed the company's new president and chief executive officer (CEO) last month.
Lores is currently president of HP Inc.'s Imaging, Printing and Solutions business, and will succeed Dion Weisler as the company's president and CEO from Nov. 1.
HP Inc. spun off from the PC and printer division of Hewlett Packard Enterprise in 2015.