In an attempt to reduce costs as the demand for personal computers declines, HP plans on cutting between 3,000 and 4,000 jobs over the next three years, according to Bloomberg Technology.
The company, which currently employs about 50,000, will eliminate positions across the board, CEO Dion Weisler said at its analyst meeting Oct. 13.
HP CFO Cathie Lesjak added that if the number of cuts is closer to 4,000, the eliminations might include 1,000 outsourced positions.
HP expects savings from the job cuts to save between $200 and $300 million annually beginning in fiscal year 2020. However, the company also expects to rack up between $350 million and $500 million in charges related to the cuts.