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HP to Cut 25,000 Jobs?!?

HP to cut jobsNews sources are suggesting that Hewlett-Packard is planning on cutting a minimum of 25,000 jobs i.e., 8 to 10 percent of its workforce.

The new CEO of HP Meg Whitman is struggling to bring a change in the company and turn it around. Looks like he is making the same moves every struggling company does, cut down on its workforce.

The job cuts, which could include retirements, are under discussion but have not yet been finalized, several people familiar with the situation told Reuters. The sources did not elaborate on a time frame or other details.

HP, which employs more than 300,000 people across the globe, could announce the layoffs as soon as next week when it unveils quarterly results, said the sources, who asked to remain anonymous because the plan has not been made public.

Analysts have been expecting job cuts in the wake of Whitman’s plan to merge the company’s personal computer and printer divisions.

Shares of HP, the leading PC maker, were up 5 cents at $22.08 in afternoon trade.

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