Hewlett-Packard to cut 9000 jobs; see $1 bn in charges
HP to spend $1 bn to boost business services. Expects to take $1 bn charge over time, half in Q3. To cut 9,000 jobs; expects to rehire 6,000. More Infotech Stories
By Agencies |
PALO ALTO: Hewlett-Packard says it will cut about 9,000 jobs and take $1 billion in charges over several years as it creates fully automated commercial data centers.
The Palo Alto, Calif. technology company says it will invest $1 billion in its enterprise services unit, over a multiyear period. The company says the job cuts will be the result of productivity gains and automation.
HP, the world's largest technology company by sales, said on Tuesday it would record a $1-billion charge through its 2013 fiscal year. Half of the charge will be taken in HP's third quarter.
On a net basis, the company said it will save $500 million to $700 million annually by the end of its 2013 fiscal year.
The company plans to cut 9,000 jobs, but will replace about 6,000 of those positions, adding that the changes to the workforce will be made over time and vary by country.
Once it is completed, HP says the changes will result in savings of about $500 million to $700 million a year.
HP says the commercial data centers will help its corporate clients run their businesses faster and more efficiently.
The Palo Alto, Calif. technology company says it will invest $1 billion in its enterprise services unit, over a multiyear period. The company says the job cuts will be the result of productivity gains and automation.
HP, the world's largest technology company by sales, said on Tuesday it would record a $1-billion charge through its 2013 fiscal year. Half of the charge will be taken in HP's third quarter.
On a net basis, the company said it will save $500 million to $700 million annually by the end of its 2013 fiscal year.
The company plans to cut 9,000 jobs, but will replace about 6,000 of those positions, adding that the changes to the workforce will be made over time and vary by country.
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Once it is completed, HP says the changes will result in savings of about $500 million to $700 million a year.
HP says the commercial data centers will help its corporate clients run their businesses faster and more efficiently.
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