Tech Layoffs: HP cuts jobs in Israel months after deciding to let go 4,000-6,000 employees

PC and printer major HP Inc has announced that it will lay off around 100 employees in Israel, with most of the job cuts set to come from its digital printing division, HP Indigo. According to Israeli news website themarker.com, some of the layoffs will also come from HP's marketing system and headquarters, which manage sales activities in the country.

The layoffs come after HP revealed last November that it planned to lay off 4,000-6,000 employees worldwide by the end of 2025, equivalent to between 7-11 per cent of its workforce. The layoffs are part of the company's "Future Ready Transformation Plan", which it hopes will result in annualised gross run rate cost savings of at least $1.4 billion by the end of fiscal 2025, and restructuring and other charges of approximately $1 billion.

HP claimed that the decision to lay off employees in Israel "creates capacity to reinvest in growth priorities while adapting to current market challenges". 

"HP continues to innovate and create customer value and remains focused on driving the continued digitisation of industry with agility, creativity, and cutting-edge technologies," said the company in a statement. "We are committed to treating people with transparency, fairness, compassion, and respect."

HP has a strong presence in Israel with a workforce of 2,600 people. However, the company had laid off 60 employees from its Netanya branch.

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