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Hewlett-Packard's struggles continue, more job cuts expected

HP will have to cut more jobs than originally anticipated, bringing the total number up to around 50,000 (NYSE:HPQ)

| Business, Financial & Legal News | Posted: May 23, 2014 12:15 am

Hewlett-Packard will layoff more employees than originally anticipated, with 11,000 to 16,000 job cuts within the next five months, according to company CEO Meg Whitman. The company originally anticipated cutting up to 34,000 jobs, but the total number will now be in the neighborhood of 50,000.

 

TweakTown image news/3/7/37922_01_hewlett_packard_s_struggles_continue_more_job_cuts_expected.jpg

 

"With the first half of our fiscal year completed, I'm pleased to report that HP's turnaround remains on track," Whitman said. "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."

 

HP personal PC revenue was up 7 percent year-over-year, but printing, enterprise group, and enterprise services revenue were all down. Software revenue was flat year-over-year, according to HP, as the company continues to move forward. In the future, HP is working with its resellers to push sales up, though will be an increasingly difficult battle - as Lenovo, Dell, and other OEMs improve their consumer and business offerings.

NEWS SOURCES
Siliconvalley.com, Blogs.marketwatch.com

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