UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 May 26, 2018 Date of Report (Date of Earliest Event Reported) |
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HP Inc. |
(Exact name of registrant as specified in its charter) |
DELAWARE | 1-4423 | 94-1081436 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
1501 PAGE MILL ROAD, PALO ALTO, CA | 94304 | |
(Address of principal executive offices) | (Zip code) | |
(650) 857-1501 | ||
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. | Results of Operations and Financial Condition. | |
The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the“Exchange Act”), or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. | ||
On May 29, 2018, HP Inc. (the “Company”) issued a news release relating to the results of operations for its fiscal quarter ended April 30, 2018. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. | ||
Item 2.05. | Costs Associated with Exit or Disposal Activities. | |
On May 26, 2018, the Board of Directors (the “Board”) of the Company approved an amendment to the Company’s current restructuring plan (“the plan”) that it expects will be implemented through fiscal 2019, subject to certain jurisdictional labor law requirements, and is expected to generate additional gross annual run rate savings of approximately $75 million beginning in fiscal 2020. As part of the plan, the Company expects an additional one to two percent of the Company's employees to exit the Company by the end of 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. The Company anticipates incurring an additional approximately $150 million to $200 million in restructuring and other charges due to both labor and non-labor actions in connection with the plan amendment. | ||
Item 9.01. | Financial Statements and Exhibits. | |
Exhibit Number | Description | |
Exhibit 99.1 | ||
SIGNATURE | |||
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized. | |||
HP Inc. | |||
DATE: May 29, 2018 | By: | /s/ Ruairidh Ross | |
Name: | Ruairidh Ross | ||
Title: | Deputy General Counsel and Assistant Secretary | ||