HP to fire over 10,000 employees by end of next year

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Hewlett Packard CEO Meg Whitman said that there has not been any significant changes in the company outlook, but there will be layoffs. HP is going to fire between 11,000 and 16,000 employees by the end of next year. This amounts to around 3-5% of HP’s overall employee base. The job cuts were disclosed in HP’s second quarter results.

Around 50,000 jobs were eliminated since Meg Whitman became CEO.

Whitman said that the cuts would happen across the company and would affect all regions. The layoffs would save HP around $1 billion in operating costs by 2016.

There should not be any more layoffs after this round as part of the restructuring.

[Source]

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