HP Inc claimed that the company is speeding up the process of reorganization. By the end of 2016 fiscal year, it will lay off 3,000 employees. It announced to streamline 3,000 employees in three years last September. It will complete this mission in advanced.

The former Hewlett Packard claimed that it would cut about 33,300 jobs in three years last September. HP Inc would cut 3,300 jobs and another a new company after the breakup would lay off 30,000 employees. HP Inc claimed then it would lay off 1,200 employees by the end of 2016. The company implied that this reorganization will help to save $300 million expenses.

Shannon Cross, the analyst from Cross Research stated that the reason for HP accelerates the reorganization plan is that it faces much heat competition from price. It focuses on the launching of its own product lines.

According to the fiscal report released by HP Incon Wednesday, its current quarterly revenue was $12.2 billion due to the slack market of PC and Printer business, declined by 12% (YOY). Its first quarterly performance met the market prediction. Its share price increased lightly after hours. PC system department received a 13% of decrease for first quarterly net revenue, while printer department declined by 17%.

The worldwide PC sales suffered decline in current years. Windows 10 launched by Microsoft could not help a lot for the slack situation in PC market.

HP In share price declined lightly in after -hours trading at $10.75 on Wednesday. Its share accumulated declined by over 13% since the breakup of business since last November.