The cuts, which will take place over the next three years, represent up to 16 per cent of the computer maker’s global workforce. HP expects to save about US$1 billion from the reductions. (The Logic)

Talking point: HP still dominates the printing market in physical stores, but it’s struggling to maintain that dominance online. Printer supplies, including ink and toner, are increasingly available online for prices lower than HP’s. To combat this, HP is offering a new line of cheaper printers with technology it said will ensure only its ink can be used. The company’s higher-end printers will be usable with non-HP ink. Incoming CEO Enrique Lores will be tasked with executing this strategy; current chief executive Dion Weisler is leaving the company he has led since 2015, a period that saw repeated rounds of layoffs. Merits of the new model aside, HP has a more fundamental problem: over 80 per cent of its profit comes from the printing division, and people just aren’t printing as much. The early stock-market response is dismal: HP is down about 10 per cent in late afternoon trading.