Latest in Hp

Image credit:

HP cuts 16,000 jobs, up to 5 percent of its workforce

144 Shares
Share
Tweet
Share

Sponsored Links

It looks like HP's layoff estimates were off again -- according to the company's latest financial report, it needs to cut an additional 11,000 to 16,000 employees from its payroll to make ends meet. This is the third (and largest) adjustment the company has made to its layoff numbers; HP originally planned to axe 27,000 employees in May of 2012, but increased the estimate to 29,000 the following september and to 34,000 in 2013. Now the restructuring plan could eliminate as many as 50,000 jobs in total. Harsh news for HP employees, particularly after CEO Meg Whitman said that the company was done eliminating positions. The president makes no such promises this time, but she's at least optimistic about the restructuring. "I'm pleased to report that HP's turnaround remains on track," and said that increased layoffs "make sense in a turnaround of this scale."

Source: HP
In this article: hp, layoffs, MegWhitman, restructuring
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
144 Shares
Share
Tweet
Share

Popular on Engadget

Blizzard may reveal 'Diablo IV' at Blizzcon

Blizzard may reveal 'Diablo IV' at Blizzcon

View
Georgia court rules police need a warrant to get data from your car

Georgia court rules police need a warrant to get data from your car

View
Google adds seasonal Nest doorbell ringers in time for Halloween

Google adds seasonal Nest doorbell ringers in time for Halloween

View
NordVPN admits to 'isolated' server breach in Finland

NordVPN admits to 'isolated' server breach in Finland

View
Mitt Romney has a ridiculous Twitter alias: Pierre Delecto

Mitt Romney has a ridiculous Twitter alias: Pierre Delecto

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr