The ax has been falling at HP faster than anticipated.
In May 2012, the company said it would cut 27,000 positions globally, 9,000 of them in the U.S. By that September, it revised that number upward to 29,000. Originally, HP said the layoffs would occur over two years as part of a “multi-year productivity initiative” aimed at simplifying the way it operates and allowing the company to be more innovative.
However, in an SEC filing Monday, HP said it has already shed 27,700 employees and that the number of jobs cut could vary by 15 percent as it seeks $3 billion in savings on labor costs.
HP originally said that although it expected a significant number of employees to accept buyout offers, a large number of layoffs was expected. Soon after, CEO Meg Whitman created a stir by saying the jobs of workers in India would be spared.
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Hewlett-Packard Co. HPQ -0.15% will close its site in Ruesselsheim, Germany, by the end of October and layoff about 850 employees–or 8.5% of its workforce in the country–as part of a previously announced broader restructuring effort. “The changes we are announcing in Germany today are a necessary part of our commitment to deliver our long-term … Continue reading »
General Motors will hire 3,000 workers from Hewlett-Packard as the carmaker moves more computer functions in-house. The move is part of a larger GM strategy to have more control over the technology it uses in cars and to run its business. The H-P employees already work on GM projects. GM says that making them full-time … Continue reading »
Hewlett-Packard confirmed that it has begun eliminating jobs at its Rio Rancho center as part of its restructuring plan. Image via CrunchBase The company did not provide the actual number of job cuts, but some sources said that the company will fire a total of 100 workers from all departments at this facility. Hewlett-Packard announced … Continue reading »
Hewlett-Packard (HP) CEO Meg Whitman said this week that the company has reached the halfway point in its restructuring, with 15,000 employees left to cut to meet its layoff target. HP last May announced plans to reduce its workforce by some 27,000 people out of a staff of 350,000. The company is using layoffs and … Continue reading »
With an aim to save costs in troubled economic times, just 10 companies together have announced nearly one lakh job cuts worldwide since start of 2012 and they include giants like HP, Google and Citigroup. While these companies come from a wide array of businesses, the reason behind layoffs has mostly been cost-cutting efforts in … Continue reading »