Hewlett Packard now plans to layoff 29,000 employees, increasing the
total number of job cuts by 2,000 over the next two years as it tries to
HP, which will cut jobs through a combination of
involuntary cuts and early retirement offers, expects to take charges of
about $3.3 billion through the end of HP's 2014 fiscal year for the
workforce reductions, it said in a regulatory filing on Monday.
The company also expects to take another $400 million in charges relating to data centers and real estate consolidation.
world's No. 1 personal computer maker, which employs more than 300,000
people globally, has begun a multi-year restructuring aimed at focusing
the sprawling company on services targeted at corporations.
Executive Meg Whitman, who took the top job last September, is trying to
move the company past the internal upheaval that marked 2011, including
the departure of two previous chief executives.
HP will likely have cut 11,500 jobs by end of fiscal 2012, the company has said.
Copyright Thomson Reuters 2012