HP restructuring, up to 30,000 jobs on the block

HP restructuring, up to 30,000 jobs on the block

Hewlett-Packard will be restructuring soon, according to reports, and sources say that CEO Meg Whitman will be discussing the possible elimination of around 30,00 jobs from the company.

A report yesterday from Business Insider claimed that between 10 and 15% of HP’s 320,000-strong workforce stood to lose their jobs. More recent reports suggest that 25,000 employees face being made redundant but an unnamed source has said that the job losses can be considered a “moving target” that could shift either up or down.

Whitman will apparently market the job cuts to investors as a means to make new investments rather than as a way to boost the company’s bottom line. Sources say that some employees, along the lines of 5,000 of them, will be encouraged to take voluntary retirement as part of the downsizing.

Source: AllThingsD

Previously the editor of PCFormat and T3, Nic is a wordsmith by day and a web developer by night. Or is that the other way round? He has been the managing editor of Stuff's print version for several years and is now the digital publisher, leading the web, mobile and app evolution of your favourite mag.