Chief executive of HP Leo Apotheker asked 10 senior executives via email to brace themselves for tough times ahead, according to the Wall Street Journal.
The email, which has since been leaked, was sent to prepare the execs for poor performance in the soon-to-be-announced quarterly results.
Apotheker said the technology company is in for "another tough quarter", and its current workforce plans are unaffordable.
News of the memo sent HP shares down five per cent in after-hours trading on Monday.
"We must watch every penny and minimise all hiring," wrote Apotheker in the email.
He also mentioned that HP would be "driving hard for revenue and profit", and that there was "absolutely no room for profitless revenue or any discretionary expenditures".
The email was sent out a few days after HP started its current quarter, 4 May, and it was also signed by chief financial officer Cathie Lesjak.
The company's quarterly results will be released on Wednesday.
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