HP Inc. has said it’s planning to cut between 3,000 and 4,000 jobs over the next three to four years in the wake of its split from Hewlett-Packard Enterprise Co.

HP is the more consumer-oriented of the two new HPs, encompassing the printer and PC-making arms of the company. The job cuts announcement was made by company Chief Executive Dion Weisler in an address to this year’s 2016 Securities Analyst Meeting, where he said the cuts would affect staff across various departments.

“Although our markets remain very challenged, we are committed to innovating in the core and continue to see long-term growth opportunities in commercial mobility and services, the disruption of the A3 copier market, and the digitization of graphics and manufacturing through our leading 3D printing solutions,” Weisler said in a statement. “We are confident in our strategy and believe it will continue to produce reliable returns and cash flow, while also enabling HP to invest in differentiated innovation and long-term growth.”

CNBC, which first broke the story, reports that the restructuring will allow HP to reap savings of around $200 million to $300 million by its fiscal 2020. The board is also expected to outlay around $350 million to $500 million in restructuring costs and other related charges.

News of the cuts comes almost 12 months after HP’s split into two entities was made official. Plans for the split were first announced about a year prior to that, with HPE CEO Meg Whitman saying the move would give each of the new companies more independence, focus, financial resources and the flexibility they need to adapt to market changes.

In its analysis of the news, industry publication CRN.com pointed out that HP has already made a number of strategic changes at various levels within its organization, and that it’s already begun to reap the benefits of them.

“Proof of the value of these strategic changes is evident in the larger dividend checks written to stakeholders this year, and also to the partner channel with the clearer boundaries between business units,” said Doug Grosfield, founder and CEO of Five Nines IT Solutions, to CRN.

However, HP’s most recent financial results show that plenty more can be done. In its third-quarter earnings reported in August, HP posted a net income of $843 million on revenues of $11.9 billion, a drop of almost 4 percent from a year ago.

Photo Credit: ignativss Flickr via Compfight cc