HP Inc to lay off 100 employees in Israel

Jerusalem, Feb 20

'PC and printer major HP Inc is laying off 100 employees and most of the job cuts will be in HP Indigo, which is engaged in the production of digital printing machines.

Some of the layoffs will also come from HP's marketing system and headquarters, which manages sales activities in the country, according to the marker.com.

HP employs 2,600 people in Israel.

The company in November last year announced it will lay off nearly 4,000-6,000 employees by the end of 2025, which is between 7-11 per cent of its workforce.

The company announced a 'Future Ready Transformation Plan', estimating 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.

The company said in a statement that the decision 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. We are committed to treating people with transparency, fairness, compassion, and respect," said the company.

HP laid off about 60 employees from its Netanya branch in the country in October last year.

HP Indigo Division is a division of HP's Graphic Solutions Business.