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HP had roughly 55,000 employees as of Oct. 31, 2018, so this will amount to as much as a 16% workforce reduction.In a classic restructuring move, HP has authorized a multibillion-dollar stock buyback to be executed during the same period as it's laying off employees.
by Joe Panettieri • Oct 3, 2019 HP Inc . While the stock now trades for around 8 times that earnings guidance, a low PE ratio means nothing if those earnings aren't sustainable. Oct 5, 2019 at 9:10AM ... through a combination of layoffs and voluntary early retirements. HP Inc. now expects 4,500 to 5,000 employees to leave the company by the end of fiscal 2019. The changes will save HP $1 billion annually over the long haul, the company said.HP continues to innovate in the PC and printer markets.

Cost-cutting can prop up the bottom line for a while, but it can't fix the problem of deteriorating printing profits.Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.Incoming HP President and CEO Enrique Lores said the company would be "taking bold and decisive actions." That part is now known as Hewlett Packard Enterprise. Before that, HP will take charges totaling $1 billion related to the restructuring. About $100 million worth of those charges will show up in Q4 2019; another $500 million of charges will be spread across fiscal 2020; the remainder will be split between fiscal 2021 and 2022.HP Inc's business model in printing is no longer working, so it's pivoting: The era of selling printers cheap is mostly over.The dividend will also get some love in fiscal 2020 with a 10% boost. HP Inc.'s stock is down 10% so far this year, while the benchmark Standard & Poor's 500 index is up 16%. HP expects its $1 billion in restructuring expenses to be spread out, with $100 million in the fourth quarter of 2019, $500 million in 2020, and the remaining $400 million split between 2021 and 2022. Even if the plan does work out, it seems unlikely that the lost profits from high-margin supplies sales will be fully offset by additional profits from hardware sales.

HP says it will use those funds to offset the dilution caused by shares issued through employee stock plans, and to buy back shares opportunistically.Stock Advisor launched in February of 2002.

We will become an even more customer-focused and digitally enabled company, that will lead with innovation and execute with purpose.”The announcement contained timely market jargon, describing how HP will become more “digitally enabled” while “disrupting industries.”“I’m proud of the progress we have made across our business with cutting edge innovation, disciplined execution and a purpose driven culture. Nevertheless, the hardware-driven business missed out on most of the big digital transformation trends of the past decade — particularly cloud, mobile, managed and subscription services.“We are taking bold and decisive actions as we embark on our next chapter. HP Inc now expects 4,500 to 5,000 employees to leave the company by the end of fiscal 2019 as part of an ongoing restructuring plan, the PC maker said on Tuesday.

HP announced these layoffs as a part of its restructuring efforts. The most likely scenario is that the printing business becomes less profitable for HP over the long run.The cost savings will mostly come from corporate functions and back-office support, according to CFO Steve Fieler in an interview with Bloomberg.These job cuts are expected to produce annualized gross savings of $1 billion by the end of fiscal 2022. HP added $5 billion to its existing share repurchase authorization on Sept. 30, bringing the total available to $6.7 billion. Ian Holm, Shakespearean actor who played Bilbo Baggins, dies. In reality, its plan is a mix of heavy cost-cutting, throwing money at shareholders, and shifting away from a business model that's clearly no longer working.HP expects to eliminate 7,000 to 9,000 employees worldwide as part of its fiscal 2020 restructuring plan, through a combination of layoffs and voluntary early retirements. Returns as of 07/30/2020. The company isn’t new to job cuts.