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HP to Cut 29,000 Jobs Through 2014

by Todd Haselton | September 10, 2012September 10, 2012 9:00 am PDT


HP originally said that it plans to cut 27,000 jobs during the next few years as part of an effort to save $3.5 billion. Now, the PC maker has increased that figure to 29,000, according to a recent filing with the U.S. Securities and Exchange Commission spotted by AllThingsD. As HP has already said, a “portion of those employees exiting the company” will do so as part of a “voluntary enhanced early retirement program,” although this only applies to the company’s U.S. employees.

HP CEO Meg Whitman said the increased figure was due to an increased number of employees willing to take those buyouts, AllThingsD¬†explained. HP took a huge hit during the third quarter of this year when it announced an $8.85 billion loss for the quarter. At the time, Whitman said the company is making “decent progress despite the headwinds” and that the company is continuing to work on its multi-year turnaround.

[via AllThingsD, SEC]

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...