HP To Lay Off About 27,000, Eyes Over $3 Billion Savings

by Wall Street Job Report on May 23, 2012

HP To Lay Off About 27,000, Eyes Over $3 Billion SavingsHewlett Packard Co outlined a plan on Wednesday to lay off roughly 27,000 employees or about 8 percent of its workforce to jumpstart growth. The layoffs, which will be mainly achieved through early retirement offers, will generate annual savings of $3 billion to $3.5 billion as it exits fiscal 2014, the company said. The world’s No. 1 personal computer maker, which employs more than 300,000 people across the globe, also reported a 3 percent decline in quarterly revenue.

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