HP Inc. approves restructuring plan, sees cutting 3,000-4,000 jobs by 2019
HP Inc. disclosed in a regulatory filing: "On October 10, the board of directors of HP Inc. approved a restructuring plan that it expects will be implemented through FY19 and is expected to generate gross annual run rate savings of approximately $200M-$300M beginning in FY20. As part of the plan, HP expects approximately 3,000-4,000 employees to exit between FY17 and FY19. The changes to the workforce will vary by country, based on local legal requirements and consultations with employee works councils and other employee representatives, as appropriate. In connection with the plan, HP anticipates incurring approximately $350M-$500M in restructuring and other charges due to both labor and non-labor actions. Of these amounts, HP expects to incur approximately $200M in labor costs related to workforce reductions."