Hewlett-Packard to cut 9k jobs in services unit
New York: Hewlett-Packard Co said on Tuesday it will lay off about 9,000 workers in the unit that provides technology services to other businesses as the company consolidates and automates its commercial data centers. The cuts will be made over about three years and amount to some 3% of HP’s global work force of 304,000 employees as of October 2009, the most recent figure available. The company said it plans to replace two-thirds of those jobs, hiring 6,000 people to boost its global sales and delivery staff. ap The job cuts will result from productivity gains and automation, HP said. Once it completes the restructuring, HP said it will see savings of about $500 million to $700 million a year. HP, which is based in Palo Alto, California, said it will take $1 billion in charges, about half of it in the current quarter and the rest by October 2013, the end of its fiscal year. The charges, which are largely for severance expenses, will be excluded from the company’s adjusted earnings results. HP, the world’s biggest maker of PCs and printers and the top technology company by revenue, has been working to expand its business in other areas as PC profit margins are usually thin. To boost its services business, the company bought Electronic Data Systems, a rival of IBM Corp., in 2008, cutting 24,600 jobs as part of that acquisition. PTI -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
