Hewlett-Packard to cut 33,000 jobs

Hewlett-Packard has announced that it will make approximately 33,000 redundancies, ahead of its split into HPE and HP Inc.

Reuters reports that the company expects the lay-offs to take place over three years, and will be focussed in the demerged HP Enterprise business.

The company will separate into Hewlett-Packard Enterprise – covering server, data centre technology and business consulting – and HP Inc. – covering printers and PCs – in November.

This is on top of 55,000 previously-announced layoffs.

"It's remarkable what's happening to our services business. As new technologies come in, we've got to restructure that labor force to low-cost locations, to much more automation than we have today," CEO Meg Whitman – who will head up HPE – told CNBC's Squawk on the Street.

It also expects employees overseas in low-cost locations to increase in proportion from to 60 per cent of the workforce by 2018, from 42 per cent currently.

3D Print.com reports that 3,300 of the layoffs will take place within HP Inc., which will be headed by Don Weisler.

HPI plans to release its long-awaited HP multi-jet fusion enterprise-level 3D printers next year.