HP Taiwan faces personnel shake-up amid global realignment
October 24, 2024
Hewlett-Packard (HP) Taiwan has announced a significant restructuring, with layoffs affecting 20 to 30 employees in its R&D department.
Industry insiders suggest the changes are part of the company’s broader “Taiwan +1” strategy, designed to optimise manpower across its operations. According to the Business Times, these shifts may also impact senior executives, including Vice Presidents, although HP Taiwan has yet to issue an official statement regarding these rumours.
This local restructuring aligns with HP’s global organisational adjustment plan, initiated in 2022, which aims to reduce its workforce by 10% by 2025. The company expects to cut between 4,000 to 6,000 jobs worldwide as part of this initiative.
Despite these internal changes, HP recently reported third-quarter revenue for fiscal year 2024 of $13.52 billion (€12.53 billion), marking a 2.4% year-on-year increase and ending an eight-quarter streak of declining sales. However, the company’s net profit fell by 16.4% to $640 million (€593 million), reflecting ongoing challenges in a highly competitive market.
HP’s strategic manoeuvres, both globally and in Taiwan, highlight its efforts to navigate an increasingly competitive technology landscape.
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Tags : HP Layoffs Restructuring Taiwan
