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05-24-2012, 02:03 AM #1
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Hewlett-Packard laying off 27,000 workers in restructuring
HP laying off 27,000 workers in restructuring
PALO ALTO, Calif.
Hewlett-Packard says it's laying off 27,000 workers, 8 percent of its work force, as it restructures the business.
The Palo Alto, Calif., company says it'll save $3 billion to $3.5 billion annually from cost cuts, including the layoffs.
Hewlett-Packard Co. expects to complete the job cuts by the end of fiscal 2014.
Shares are up $1.40, or 6.6 percent, to $22.48 in aftermarket trading Wednesday
HP laying off 27,000 workers in restructuring - BusinessWeekJoin our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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