HP India may cut 500 jobs, say analysts

Personal computers and printers maker HP may cut nearly 500 jobs in India as part of its global restructuring plan, analysts said.
The company last week said it would let go 7,000-9,000 employees globally by 2022 as part of a restructuring of operations intended to cut costs.

The company (in India) would be impacted by the cost savings plan, and PC growth was slowing in the country, people aware of HP’s India plans and analysts told ET.

“There will be job cuts here. They have discontinued some models and PC growth is slowing, aside from government project orders which are not consistent,” one person who is privy to the plans told ET.

HP has not disclosed the number of job cuts in India.

“This is a global restructuring and we’re not breaking down numbers by site or location,” HP said in response to questions by ET.

The PC hardware maker’s announcement comes a month ahead of seasoned HP veteran Enrique Lores taking over as chief executive from Dion Weisler. “(HP’s) India team is likely to see 500 job cuts. Even though India is a focus area for HP, the India team will see the impact of the global measure,” said Kris Lakshmikanth, CEO of The Head Hunters India.

The company has about 55,000 employees across the world.