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HP is reportedly ready to layoff as many as 1,000 of its employees in Germany. The firm said in May that it has plans to lay off 27,000 of its employees around the globe to “improve [its] processes, and remove complexity from [the] business.” The latest news was first reported by German magazine WirtschaftsWoche, which also said HP is prepared to cut 8,000 employees in Europe through 2014. “As many as 1,000 jobs are acutely endangered,” the magazine said, quoting a German official. The firm hopes that the job cuts and optional early retirement packages will help it save $3 billion to $3.5 billion through 2014.

[via Reuters]