Hewlett-Packard To Cut 14,500 Jobs

Computer maker Hewlett-Packard Co. Latest News about Hewlett-Packard on Tuesday said it will cut 14,500 jobs, about 10 percent of its full-time staff, as part of a restructuring plan designed to save $1.9 billion annually and boost business performance. The job cuts will occur over the next six quarters, the Palo Alto-based company said.

Most of the job cuts will come in support functions -- such as information technology, human resources and finance -- and the rest will be made inside business units. The company said job cuts in sales positions will be minimal, and there will be little change to the headcount in research and development. As part of the cuts, HP said it will offer a voluntary retirement program to longer-serving employees based in the United States.

News source: NewsFactor

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