HP to Fire 5,000 More Employees, Bringing Layoff Plan to 34,000

HPHewlett-Packard is yet again ramping up the number of jobs it expects to eliminate as part of its turnaround plan, blaming market and business pressures for the cuts in a regulatory filing Monday. The world’s largest computer maker revealed in a filing with the Securities and Exchange Commission that it expects to cut an additional 5,000 jobs on top of the 29,000 it previously planned to eliminate. The company originally announced plans to cut 27,000 positions in May 2012, boosting that figure in September 2012. “Due to continued market and business pressures, as of October 31, 2013, HP expects to eliminate an additional 15% of those 29,000 positions, or a total of approximately 34,000 positions, and to record an additional 15% of that $3.6 billion in total costs, or approximately $4.1 billion in aggregate charges,” the company said in its annual report.

Read the full story at CNET.

Author:

  • Paula Lynn

    What can be done about so many people gone from so many professional positions at once and where are they going to find comparable jobs ? without an expensive move too. Nothing ? No where ? Discuss. There have been other mass layoffs and there will be more.