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  • Hewlett-Packard to Cut 30,000 More Jobs

    A new report from BBC is reporting that seminal Silicon Valley firm Hewlett-Packard will be splitting into two companies and is working on major restructuring of the company. Due to the company splitting into two, HP revealed that approximately 30,000 employees will be laid off. According to BBC, HP chief Meg Whitman announced the employee cuts at a recent analyst conference.

    Just earlier this year HP cut 55,000 jobs and with the additional 30,000, the number of job losses totals 85,000 at HP. The company noted that with the upcoming job cuts, they would save $2.7 billion in annual costs even though they will have to pay a $2.7 billion one-time charge. Whitman noted:

    We've done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring.
    Charles King, analyst at the Silicon Valley IT consulting firm Pund-IT, noted that he wasn’t sure HP is done with the layoffs just yet, which means more could potentially be cut.

    The number is sadly larger than some people might have expected, but I think it's a reflection of how much trouble HP has been having with its services. I'm frankly not sure if HP is finished with the layoffs.
    Announcement of the company split was made late last year, which is likely to do with low sales and profits from the company. Who knows, maybe a major restructuring of the company will help them out.

    Source: BBC
    This article was originally published in forum thread: Hewlett-Packard to Cut 30,000 More Jobs started by Akshay Masand View original post
    Comments 1 Comment
    1. TechAlex's Avatar
      TechAlex -
      Is Carly Fiorina in charge of HP again?