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HP to Cut Up to 6,000 Jobs Over Three Years as PC Demand Falters

  • Fiscal-year profit forecast falls short of analysts’ estimates
  • Company considers more subscriptions for computers, printers
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HP Inc. will eliminate as many as 6,000 jobs over the next three years amid declining demand for personal computers that has cut into profits.

Earnings, excluding some items, will be $3.20 to $3.60 a share in the fiscal year ending in October 2023, HP said Tuesday in a statement. Analysts, on average, projected $3.61 a share, according to data compiled by Bloomberg. Free cash flow will be about $3.25 billion, which also falls short of estimates.