Hewlett-Packard announced Thursday that it plans to cut up to 16,000 more jobs by October.

HP CEO Meg Whitman said that the additional job cuts are part of an effort to further reduce costs for the 75-year-old company.

“I would say I’m feeling more confident because we have seen a stabilization of revenue,” Whitman told analysts on a conference call, according to The Associated Press. “The high single-digit declines are over.”

Whitman told analysts she doesn’t expect any additional cuts.

The Wall Street Journal reports that HP expects its job cuts to produce additional savings in fiscal year 2016 of about $1 billion a year.

“With each passing quarter, HP is improving its systems, structures and core go-to-market capabilities,” Whitman said in prepared remarks, according to CNET. “We’re gradually shaping HP into a more nimble, lower-cost, more customer- and partner-centric company that can successfully compete across a rapidly changing IT landscape.”

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