The company will incur pre-tax restructuring charges of about $700 million for the job cuts, an increase from the original estimate of $500 million, HP said Tuesday in a regulatory filing. During a conference call on May 29, executives had said they were expanding the job cuts that began in fiscal 2017, although they provided few specifics at the time. Palo Alto, California-based HP had 49,000 employees as of Oct 31.

Under Chief Executive Officer Dion Weisler, HP has produced consistent growth in the midst of waning demand for PCs. The company has gained market share with more desirable, higher-end computers, including gaming machines that can be more profitable. The printer business also helped power HP’s profit, as the company sells more-expensive devices to corporate clients after integrating Samsung Electronics Co.’s unit. HP shares have gained 25% in the past 12 months.

After reporting its seventh consecutive quarter of sales growth, HP on May 29 raised its profit forecast for the 2018 fiscal year to a range of $1.97 to $2.02 a share from $1.90 to $2. Analysts had projected $1.97 a share.