Hewlett-Packard to Cut Up to 30,000 More Jobs in Restructuring

Hewlett-Packard Co., the technology company splitting into two separate entities, said it will cut as many as 33,300 more jobs as Chief Executive Officer Meg Whitman tries to refashion the business for a rapidly changing technology market.

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The two companies that will emerge in November, Hewlett Packard Enterprise to supply businesses with high-end technology, and HP Inc., which will sell personal computers and printers, are designed to be more nimble and specialized. Hewlett-Packard had 302,000 workers at the end of October 2014, down from a peak of about 350,000 in 2011. “HP absolutely needs to fix enterprise services, PCs and servers across both its companies,” said Anand Srinivasan, an analyst at Bloomberg Intelligence. “Some of the issues are market related and some of them are HP-specific. The solution to revenue growth is not going to come from restructuring actions.” More...

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