HP Inc. has introduced the HP Jet Fusion 3D printing to increase the manufacturing capacity of the company. This move will lead to a cut down of 4000 personnel as a reconstruction move in the next three years in the company.
HP went through a lean market phase as the demand for PCs and desktop computers were greatly slashed. This is owing to the rising trend in the use of smartphones. HP is the proud manufacturer of the world’s thinnest laptop in the Spectre 13 and the X3 Lap Dock. The PC market is down 3.9% -5.7% year-on-years according to market research firms IDC and Gartner. This poor phase has compelled the company to restrain its investments in 3D scanning and 3D printing.
In spite of the slow growth, HP is all geared up to expand in the 3D printing line. It recently bought David Vision Systems and David 3D Solutions with an aim to build a complete 3D ecosystem. It is planning to invest $65 million in 3D printing in Spain. The underside of this move is that it will put a lot of people out of work in the company.
This labor cut will save $200-300 million of the company starting 2020. Out of its 50000 employees, the company will cut down about 10% of its labor force. Company CEO Dion Weisler said that they will come up with newer 3D printing solutions, and after the company’s split last year, HP Inc Rose it is on a hunt for investors and marketers.
With an aim to return 50-75% of its cash flow to investors, this company is aggressively looking towards creating 3D printing and 3D scanning solutions in the near future. The company saved $1 billion in the split and its stocks fell by 1.3% when it broke the news of the cash flow.