HP Stock Closes Down 10% a Day After Laying Out Restructuring Plans
October 04 2019 - 4:46PM
Dow Jones News
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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