Looks like May's Hewlett-Packard layoff numbers were about 2,000 short of reality, as the American hardware company adjusted its previous 27,000 estimate to 29,000 in a recent SEC 10-K filing spotted by ZDNet. Those employees represent approximately eight percent of HP's entire workforce, and the restructuring saves the company $3 to $3.5 billion per year -- money it badly needs following last quarter's losses. HP says that 3,800 employees were affected as of July 31, 2012 -- just over 13 percent of the restructuring total. It's unclear how many more will be affected by year's end, if any.
Filed under: Desktops, Laptops, Software
HP adds another 2,000 to the chopping block, cutting 29,000 jobs by 2014 originally appeared on Engadget on Mon, 10 Sep 2012 12:41:00 EDT. Please see our terms for use of feeds.
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SEC | Email this | CommentsSource: http://www.engadget.com/2012/09/10/hp-adds-another-2-000-to-the-chopping-block-cutting-29-000-jobs/
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