Reuters: Technology News: HP adds to layoff tally, now plans 29,000 job cuts

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

HP adds to layoff tally, now plans 29,000 job cuts Sep 10th 2012, 16:19 Tweet Share this Email Print Related News HP posts mega-loss after EDS writedown Thu, Aug 23 2012 UPDATE 3-HP posts mega-loss after EDS writedown Wed, Aug 22 2012 Dell's outlook disappoints as PC market falters Wed, Aug 22 2012 A view of the Hewlett Packard headquarters in Palo Alto, California November 23, 2009. Credit: Reuters/Robert Galbraith SAN FRANCISCO | Mon Sep 10, 2012 12:19pm EDT SAN FRANCISCO (Reuters) - Hewlett Packard now plans to layoff 29,000 employees, increasing the total number of job cuts by 2,000 over the next two years as it tries to kickstart growth. HP, which will cut jobs through a combination of involuntary cuts and early retirement offers, expects to take charges of about $3.3 billion through the end of HP's 2014 fiscal year for the workforce reductions, it said in a regulatory filing on Monday. The company also expects to take another $400 million in charges relating to data centers and real estate consolidation. The world's No. 1 personal computer maker, which employs more than 300,000 people globally, has begun a multi-year restructuring aimed at focusing the sprawling company on services targeted at corporations. Chief Executive Meg Whitman, who took the top job last September, is trying to move the company past the internal upheaval that marked 2011, including the departure of two previous chief executives. HP will likely have cut 11,500 jobs by end of fiscal 2012, the company has said. (Reporting By Poornima Gupta; editing by Andrew Hay) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions