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HP / Layoffs More Dramatic Than Thought

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.

Chosen excerpts by Job Market Monitor. Read the whole story at 

Capture d’écran 2013-09-11 à 13.04.00

via HP’s Layoffs More Dramatic Than Thought – Dice News.

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