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Hewlett-Packard to cut 27,000 jobs by the end of 2014

Hewlett-Packard to cut 27,000 jobs by the end of 2014

Hewlett-Packard, the world’s largest maker of personal computers, is to cut 27,000 jobs by end of 2014.

The company said the cuts – about 8% of its workforce – will reduce costs by up to $3.5bn (£2.2bn) a year.

HP said in a statement that the money would be reinvested into the company.

The move was part of a “productivity initiative designed to simplify business processes” and comes as rival products such as the iPad tablet computer eat into HP’s sales.

Writing Experts As part of the changes, the head of HP’s Autonomy division, Mike Lynch, is being replaced by Bill Veghte, HP’s chief strategy officer. Mr Lynch will leave after what HP called a “transition period”.

http://www.smn.gob.hn/?dissertation-on-uk-housing-market Dissertation On Uk Housing Market Mr Lynch founded software company Autonomy as a small start-up and turned into one of the UK’s largest technology companies.

Doctoral Thesis Kentucky It was bought by HP last year for more than $10bn.

HP employs about 350,000 people worldwide and about 20,000 in the UK. A spokesman said it was too early to say exactly where the job cuts would hit, but no part of the business would escape some losses.

“We have not yet announced specific plans with regards to specific locations. We do expect the workforce reduction to impact just about every business and region,” the spokesman said.

Read More/Source: BBC News

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