Futu news on October 4th$HP (HPQ.US) $After announcing that it would lay off up to 16% of its employees, shares continued to fall after the opening, falling 9.05% to $16.735, with a temporary turnover of $66.2088 million, with a total market capitalization of $24.8 billion.

Cut 7000 to 9000 jobs

Hewlett-Packard will cut up to 16 per cent of its workforce as part of a massive restructuring to cut costs and boost sales growth. The personal computer giant said it would cut 7000 to 9000 jobs through layoffs and voluntary early retirement. The layoffs will help save about $1 billion by the end of fiscal year 2022. The last time HP disclosed employee data was a year ago, when it had 55000 employees. HP also announced that it expects to earn between $2.22 and $2.32 a share in fiscal 2020, excluding restructuring costs and other items. The average analyst estimate is $2.23 a share.

Hewlett-Packard third quarter 2019 results

Earlier, Hewlett-Packard reported third-quarter earnings of $14.6 billion, up 0.1% from $14.6 billion in the same period last year, and net profit of $1.2 billion, up 34% from $900 million in the same period last year. Earnings per share were $0.78, up 44.4% from $0.54 in the same period last year. Without GAAP, HP's third-quarter net income was $880 million, up 4.8% from $840 million in the same period last year, and earnings per share was $0.58, up 11.5% from $0.52 in the same period last year.

Laptop faucet

According to the latest notebook shipping report of global market research firm TrendForce, although CPU is still in short supply in the first quarter of 2019, the notebook market as a whole has not been hit much. Global laptop shipments reached 36.97 million in the first quarter, down only 0.8 per cent from 37.27 million in the same period last year.In terms of individual brands, HP topped shipments for 12 consecutive quarters, with shipments of 9.23 million units in the first quarter, an annual increase of 2.6 per cent.