HP readying the axe on 25,000 jobs?
HP is planning to shed at least 25,000 jobs, according to sources close to the company.
HP is considering cutting its workforce by eight to 10 percent - a minimum of 25,000 jobs - sources familiar with the matter have told Reuters.
The reports come as newly installed CEO Meg Whitman strives to return the storied Silicon Valley institution to growth.
The job cuts, which could include retirements, are under discussion but have not yet been finalised, several people familiar with the situation told Reuters. The sources did not elaborate on a time frame or other details.
HP, which employs more than 300,000 people across the globe, could announce the layoffs as soon as next week when it unveils quarterly results, said the sources, who asked to remain anonymous because the plan has not been made public.
Analysts have been expecting job cuts in the wake of Whitman's plan to merge the company's personal computer and printer divisions.
Whitman has not been shy since taking over the lead role in the company last year. In February this year at HP's first partner conference in Las Vegas, she promised to deliver speedy stability to partners and that she would make the company one they should be proud to be associated with.
"HP is coming back strong after a rough 2011," she said. "We have got our swagger back, i hope you do too."
Shares of HP, the leading PC maker, were up five cents at $22.08 in afternoon trade.
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