Hewlett-Packard to cut 9,000 jobs in $1 billion restructuring plan

Wednesday, June 2, 2010

Hewlett-Packard (HP) expects to lose 9,000 jobs between now and 2013 in a US$1 billion (£686m) restructuring plan.

The 9,000 jobs losses will be in the enterprise services division, but the company expects to add about 6,000 employees to its sales and delivery teams.

HP commented in a statement, "As a result of productivity gains and automation, HP expects to eliminate roughly 9,000 positions over a multi-year period to reinvest for further growth and to increase shareholder value"

HP will invest in fully automated data centers as it makes operational changes in its Internet technology services business. HP said the restructuring will generate savings of $500–700 million (about €407–571 million) in net savings after reinvestment.

Hewlett-Packard has around 300,000 employees and is the world's largest technology company by sales. HP is an American multinational information technology corporation headquartered in Palo Alto, California.

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Sources

"Hewlett-Packard to cut 9,000 jobs" — Agence France-Presse, June 1, 2010
"Hewlett-Packard to cut 9,000 jobs worldwide" — BBC, June 1, 2010
Annalyn Censky. "HP to cut workforce by 3,000" — CNN Money, June 1, 2010
Jerry A. Dicolo. "H-P to Cut 9,000 Jobs, Spend $1 Billion in Restructuring" — Wall Street Journel, June 1, 2010
Jeffry Bartash and Benjamin Pimentel. "H-P to invest $1 billion in automation, cut 9,000 jobs" — MarketWatch, June 1, 2010

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