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Hewlett-Packard to cut 9,000 jobs

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Hewlett-Packard to cut 9,000 jobs
 Today at 12:32 | Edit note | Delete

Hewlett-Packard (HP) says it plans to spend $1bn (£686m) and shed 9,000 jobs over three years as it creates fully-automated commercial data centres.

HP, the world's largest technology company by sales, says the job cuts will be the result of productivity gains and automation.

HP said the resulting "next-generation services" would benefit clients.

The firm said it would record a $1bn financial cost charge in the course of its 2013 financial year.

"As a result of productivity gains and automation, HP expects to eliminate roughly 9,000 positions over a multi-year period to reinvest for further growth and to increase shareholder value," it said.

It said the shake-up would make it annual gross savings of about $1bn and net savings "after reinvestment in a range between $500m and $700m".

HP added that it would replace about 6,000 of the jobs that were lost, adding that the changes to the workforce would be made over time and would vary by country.

And it said the commercial data centres would help its corporate clients run their businesses faster and more efficiently.

The latest job losses come after 6,700 posts were shed last year to make savings.


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