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HP raises number of jobs to be slashed
Source: Agencies |
September 11, 2012, Tuesday
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Print Edition
Print Edition
HEWLETT-PACKARD is planning to cut about 2,000 more jobs than it had previously announced, as CEO Meg Whitman tries to turn the company around. Last month, the company posted the largest loss in its 73-year history.
In a regulatory filing yesterday, the computer and printer maker says it will cut 29,000 jobs by October 2014, up from the 27,000 it unveiled in May.
It didn't explain why it had raised the number. As before, HP expects some job cuts to come through an early retirement program.
HP also says it expects to record charges of US$3.7 billion, mainly for the job cuts. That's up from the May estimate of US$3.5 billion.
It has been hit by the shift in technology spending from PCs and printers toward cellphones and tablets.
In a regulatory filing yesterday, the computer and printer maker says it will cut 29,000 jobs by October 2014, up from the 27,000 it unveiled in May.
It didn't explain why it had raised the number. As before, HP expects some job cuts to come through an early retirement program.
HP also says it expects to record charges of US$3.7 billion, mainly for the job cuts. That's up from the May estimate of US$3.5 billion.
It has been hit by the shift in technology spending from PCs and printers toward cellphones and tablets.
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