HP India surely happens to be among the most popular and widely known brands in the space of Personal Computers and Printers. But guess what? It appears that even HP India is all set to bite the dust emanating from the global economic slowdown.
Because how else is one going to explain or justify the fact that HP India seems to be on the cusp of cutting hundreds of jobs in an economy otherwise labeled ‘growing’ and ‘healthy?’
Yes, you read that right and sans any mistakes or misconceptions. In the coming days, it appears that HP India is going to cut down its taskforce in India steadily.
To those who are already employed by the renowned PC Maker and Printer brand, it may not come as an encouraging piece of news to note that the company is about to slash 500 jobs in India as a part of its global restructuring program.
But while this is what seems to be the order of the day in the imminent future, when one talks of the projections and forecasts in the upcoming period post-2020, then things appear really bleak.
Wondering why is that? Very well, find out for yourself here.
Just last week, HP confirmed that by the time period of 2022, it would let go as many as 7000 to 9000 employees globally. This move would again be a part of a global restructuring plan whose central aim is to cut costs.
Well, truth be told, one can’t deny the fact that among the first courses of action in dire times marked by sluggish growth happens to be cost-cutting. That’s the first course of action corporations take especially during times of duress.
And therefore, it’s not a surprise that when faced with economic adversity, HP India too is following the same course of action. But in order to understand just how grave the situation is for the firm in India, it’s important to visit its PC Sales.
Experts and analysts suggest that the PC Sales haven’t been all that great in the last few quarters and the times ahead do not specifically promise a sudden change.
Recently, an expert shared some insights on the same lines with the Economic Times and stated the following:
“There will be job cuts. They have already discontinued some models. Besides, PC growth is slowing down. The government project orders aren’t any consistent.”
That said, here’s another problem being faced by the corporate. Thus far, the exact number of job cuts hasn’t been shared by the company. This fundamentally means that the fate of its current share of employees hangs on a loose balance.
But the announcement regarding the job cuts comes just a month ahead of a major change right at the top bracket of leadership at the company. Seasoned HP veteran, Mr. Enrique Lores is all set to take over as the chief executive of the firm, replacing Dion Wiesler.
What’s most surprising and dramatic at the same time is that even as India continues to be a big market for the organization, the concern regarding the job cuts stays where it is and nothing positive seems to be brimming on the horizon.
Moreover, interacting with The Economic Times, the firm happened to share, “this is a global restructuring and we are not breaking down numbers by location or site.”