HP to sell off $3.5 billion in printers and printers equipment in India

Fox News article AUSTIN, Texas — HP Inc. is laying off about 200 workers at its print and digital printing operations in India, according to people familiar with the matter.

The cuts are part of the company’s effort to improve productivity in India amid a slowdown in growth, the people said.

HP’s print and online business employs about 2,200 people and employs about 8,500 people in India.

The layoffs will impact the printing, assembly and marketing divisions, according, to people with knowledge of the matter who asked not to be identified because the matter is private.

HP declined to comment.

The company is also cutting jobs in its print printing business.

In India, print printing accounts for about 15% of the total print market.

HP has been facing growing pressure in the printing industry as print volumes decline.

HP Chief Executive Officer J.P. Watson has repeatedly stressed the importance of improving productivity in the print printing industry.

India’s growth rate is slowing to less than 3% a year, and growth in the other sectors of the economy, including telecoms and consumer products, are expected to continue to slow.

HP said it will cut 3,000 jobs, about half its workforce, as it continues to focus on improving productivity.

HP also announced last month that it would buy digital printing company Avanti for $4.3 billion.

Avantis’ printers and parts have been used by companies including Google, Facebook and Amazon.