WASHINGTON (AP) — Alleged misbehavior by the Internal Revenue Service and other federal …
This March 8, 2009 file photo, shows the entrance to the Hewlett-Packard Co. facility in Palo Alto, Calif. (AP Photo/Paul Sakuma, file)
Improving economy changes…
Why worry? Less aid by Fed…
WASHINGTON (AP) — Investors have grown nervous that the Federal Reserve will scale back …
Maine governor moves out of…
AUGUSTA, Maine (AP) — Maine's governor, who has gained attention in the past for telling …
Between economy and trouble,…
WASHINGTON (AP) — The economy is recovering, the White House is dealing with multiple …
Sales gains lift Dollar Tree's…
RICHMOND, Va. (AP) — Discount retailer Dollar Tree Inc. said Thursday that its net income…
Advertisement
HP to cut 27,000 jobs to save up to $3.5B annually
Hopes to avoid many layoffs
Updated: Wednesday, 23 May 2012, 4:29 PM EDT
Published : Wednesday, 23 May 2012, 4:29 PM EDT
SAN FRANCISCO (AP) — Hewlett-Packard plans to jettison 27,000 workers as the growing popularity of smartphones, the iPad and other mobile devices makes it tougher for the company to sell personal computers.
The cuts announced Wednesday represent the HP's largest payroll purge in its 73-year history. The reductions will affect about 8 percent of Hewlett-Packard Co.'s nearly 350,000 employees by the time the overhaul is completed in October 2014.
HP hopes to avoid as many layoffs by offering early retirement packages.
The company, which is based in Palo Alto, Calif., expects to save as much as $3.5 billion annually from the job cuts and other austerity measures.
News of the cutbacks overshadowed the release of HP's latest quarterly results. The company's earnings and revenue were both better than analysts projected.
Ground rules for posting comments: No profanity or personal attacks. No racially charged comments. If it's not something you would say to someone's face, it's most likely inappropriate. Please comment on the subject of the story itself. If you do not follow these rules, we will remove your post. Repeat offenders will be banned from making future comments. Keep it civil, folks! WANE is not responsible for the content posted in this comment section.
Email This
Print This
View Story on a Single PageAdvertisement
Advertisement
Advertisement
