HP Inc plans to trim its workforce by up to eight percent with the loss of between 3,000 and 4,000 jobs by 2019 to shave millions off the company's costs.

The tech giant's staff headcount as of last November stood at 50,000 workers, but it revealed in a regulatory filing to the US Securities and Exchange Commission on Thursday that job cuts would begin in 2017.

It said that HP Inc's board of directors had approved a restructuring plan that it will implement over the next three years. The firm added in its 8-k:
HP expects approximately 3,000 to 4,000 employees to exit between fiscal 2017 and fiscal 2019. The changes to the workforce will vary by country, based on local legal requirements and consultations with employee works councils and other employee representatives, as appropriate.
In connection with the plan, HP anticipates incurring approximately $350 million to $500 million in restructuring and other charges due to both labor and non-labor actions. Of these amounts, HP expects to incur approximately $200 million in labor costs related to workforce reductions.