Hewlett-Packard to cut 27,000 jobs by the end of 2014

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Hewlett-Packard to cut 27,000 jobs by the end of 2014

BBC – Hewlett-Packard, the world’s largest maker of personal computers, is to cut 27,000 jobs by end of 2014. The company said the cuts – about 8% of its workforce – will reduce costs by up to $3.5bn (£2.2bn) a year. HP said in a statement that the money would be reinvested into the company. The move was part of a “productivity initiative designed to simplify business processes” and comes as rival products such as the iPad tablet computer eat into HP’s sales. Read Article

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