HP Stock Closes Down 10% a Day After Laying Out Restructuring Plans

Date : 10/04/2019 @ 8:46PM
Source : Dow Jones News
Stock : HP Inc (HPQ)
Quote : 19.94  0.29 (1.48%) @ 12:43AM
After Hours
Last Trade
Last $ 20.30 ▲ 0.36 (1.81%)

HP Stock Closes Down 10% a Day After Laying Out Restructuring Plans

HP (NYSE:HPQ)
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2 Months : From Sep 2019 to Nov 2019

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   By Maria Armental 
 

HP Inc.'s stock set a 52-week low of $16.46 Friday, a day after it laid out plans to overhaul operations including eliminating the regional operating layer and slashing one-fifth of distribution centers. The company also announced another drastic round of job cuts of up to roughly 16% of its workforce.

Shares recovered slightly and closed down 10% at $16.64.

Though the restructuring would be across the company, the key question is how -- and when -- it will stop the bleeding in the printing supplies business, once its cash cow.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

October 04, 2019 16:31 ET (20:31 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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