The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Information Service Activities Information Service Activities 63 - Information service activities
4,000 - 6,000 jobs Number of planned job losses
Announcement Date
22 November 2022
Employment effect (start)
22 November 2022
Foreseen end date
31 December 2025
Description
Hewlett Packard (HP) has announced a global restructuring, planning to reduce its workforce by 4000 - 6000 employees. This restructuring has been caused by a 'continued' drop in demand for commercial and consumer PC sales as well as lower than expected forecasts for 2023. The job cuts have been framed as part of the 'Future Ready Transformation Plan' for the company, which run for the next three years. Job cuts are said to begin at the start of the 2023 fiscal year. The departments which will be targeted have not been announced. However, Germany and America have been stated as the two primary locations where job reductions will occur.
A previous restructuring event has been recorded for HP in the ERM Events Database. In 2021, a planned business expansion of 150 jobs in Ireland was announced (HP-2021-IE).
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
