PC and printer giant HP Inc is set to lay off 100 employees in Israel, with most of the job cuts expected to come from its HP Indigo division, which produces digital printing machines. According to marker.com, some layoffs will also occur in the company’s marketing system and headquarters, which manages sales activities in the country.
The layoffs in Israel are part of HP’s broader plan to cut between 4,000 and 6,000 jobs by the end of 2025, which is equivalent to 7-11 per cent of its workforce. The company announced its “Future Ready Transformation Plan” last year, with an estimated 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.
In a statement, HP said that the decision to lay off employees in Israel would “create capacity to reinvest in growth priorities while adapting to current market challenges.” The company emphasised its commitment to treating people with transparency, fairness, compassion, and respect.
This is not the first time that HP has implemented layoffs in Israel. In October of last year, the company laid off around 60 employees from its Netanya branch. The HP Indigo Division is a part of HP’s Graphic Solutions Business.