Hewlett Packard planning to layoff more than 4,000 employees

(KOLO)
Published: Nov. 22, 2022 at 2:45 PM PST
Email This Link
Share on Pinterest
Share on LinkedIn

VANCOUVER Wash. (KPTV) – Technology company Hewlett Packard, which operates a campus in Vancouver, is expecting global layoffs of an estimated 4,000 to 6,000 employees.

HP says the layoffs are part of a “Future Ready Transformation Plan,” to cut costs. The company is estimating the measures will save $1.4 billion by the end of 2025.

The computer maker also disclosed its quarterly earnings dropped 11% compared with a year ago.

SEE ALSO: Grand jury finds Salem police officer justified in using deadly force on robbery suspects

The HP campus in east Vancouver covers two buildings of 275,000 square footage. Recent numbers from the company showed roughly 1,000 people employed at the site, with 300 of them being contractors.

HP says the layoffs are expected to be finished by the end of the 2025 fiscal year.