Hewlett-Packard plans to cut as many as 16,000 more jobs as chief executive Meg Whitman intensifies her efforts to turn around the personal computer maker. 
Whitman, who has already axed 34,000 posts in her two years at the helm, said the fresh job cuts were necessary to streamline the business across its broad portfolio, which encompasses computing, networking, storage and software. But some analysts wondered whether it signalled a worsening outlook for the coming year, or if more jobs may be cut.
“The rationale makes sense,” said RBC analyst Amit Daryanani. “[But] you do worry if there’s a finality to this process, or if it’s an ongoing thing that may affect morale at the end of the day. So far the trend has been worrisome.”
HP, whose sprawling global operations employ more than 250,000, estimated about three years ago when it first hatched its sweeping overhaul that it would need to shed 27,000 jobs. That number rose to 34,000 last year.
On Thursday, it estimated another 11,000 to 16,000 more jobs needed to go, scattered across different countries and business areas. That took the grand total under Whitman’s restructuring to 50,000.
Chosen excerpts by Job Market Monitor. Read the whole story at Hewlett-Packard to cut another 16,000 jobs worldwide as revenue dips | Business | theguardian.com.
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