HP to streamline its operations by shedding thousands of jobs

Global technology company HP is to shed 27,000 jobs worldwide as part of a streamlining-driven restructure of its business.

The figure represents approximately eight per cent of the global workforce, with HP saying that every region and every location will probably be affected.

HP is looking to make savings of between US$3-$3.5 billion over the next two years, whilst increasing efficiency by improving its processes.
HP’s president, Meg Whitman, said in a statement: “While some of these actions are difficult because they involve the loss of jobs, they are necessary to improve execution and to fund the long-term health of the company.”

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24/05/12