HP Profit Plunges, Layoffs Coming

HP Profit Plunges, Layoffs Coming


HP this week reported a 17 percent drop in profit, and also announced that it will lay off 6,400 workers over the next year.

According to the AP, the losses came largely on weakness in the PC and printer ink segments. The company said that revenue from laptops dropped 13 percent, while sales of desktop computers dropped 24 percent (both figures worldwide.)

The cuts amount to about 2 percent of HP’s workforce.