HP to Cut 27,000 Jobs, Save Up to $3.5B

Associated Press Published: May 23, 2012
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Hewlett-Packard Co. plans to cut 27,000 jobs as the growing popularity of smartphones, the iPad and other mobile devices makes it tougher for the company to sell personal computers. (May 23)

HEADLINE:

HP to cut 27,000 jobs, save up to $3.5B

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CAPTION:

Hewlett-Packard Co. plans to cut 27,000 jobs as the growing popularity of smartphones, the iPad and other mobile devices makes it tougher for the company to sell personal computers. (May 23)

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HEWLETT PACKARD HAS BEEN ONE OF THE COMPANIES STRUGGLING TO KEEP PACE WITH THE RAPID CHANGE IN CONSUMER PREFERENCES, WHILE THE LIKES OF APPLE SUCCEEDS.

PERSONAL COMPUTERS ARE NOT AS HOT AS THEY ONCE WERE, WHEN IPHONES AND IPADS ARE THE THING.

FOR HP, THAT HAS PROMPTED A DECISION TO GET RID OF 27,000 WORKERS. THAT AFFECTS ABOUT 8 PERCENT OF THE WORKFORCE OF 350,000. THE CUTS ARE TO BE SPREAD OUT THROUGH OCTOBER 2014.

THE PALO ALTO, CALIFORNIA BASED COMPANY HOPES TO AVOID SOME LAYOFFS BY OFFERING EARLY RETIREMENTS.



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