HP announced Thursday that it will cut an additional 11,000 to 16,000 jobs, after previously revealing plans for 34,000 layoffs.
The news came as part of the company's second-quarter financial results, which were in line with analyst expectations. Shares slipped 2% in after-hours trading Thursday.
HP said the latest layoffs would come across all its business units and geographic locations, and would generate $1 billion in annual savings beyond the $3.5 to $4 billion projected from the previously announced cuts.
"No company likes to decrease the work force, and we recognize that this is difficult for employees," CEO Meg Whitman said in a conference call with analysts. "I think everyone understands the turnaround we're in."