Fergie's Tech Blog

HP to slash approximately 15,000 jobs

Dawn Kawamoto and Michael Singer write in C|Net News:

Hewlett-Packard officials worked over the weekend to finalize the size of the layoffs, which will come within 5 percent of the previously targeted 15,000 positions, according to a source close to the company.

IT, sales and services will be among the areas particularly hit, although the sweeping cuts will be felt throughout the company, according to the source. The move to cut more than $1 billion a year in costs during the next two years marks one of the most significant initiatives Mark Hurd, HP's chief executive, has launched since his arrival less than four months ago from NCR.

posted by Fergie @ 7/17/2005 08:26:00 AM