The computer-maker’s board approved the restructuring plan in 2016, which originally sought to cut about 4,000 jobs. In May, HP said that number could increase by 1 to 2 percent. As of Oct. 31, 2017, HP had roughly 49,000 employees, according to Reuters.
HP also expects pretax charges related to the layoffs to be about $700 million, compared with its earlier projection of about $500 million. Roughly half of those pretax costs will be dedicated to severance, while the rest will relate to infrastructure, non-labor actions and other charges, the company said.
HP ranked No. 1 in worldwide PC shipments in the first calendar quarter of 2018, holding 22.6 percent market share, according to filings for the quarter ended April 30. HP also reported $14 billion in quarterly sales, according to Reuters.
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