Tuesday, June 1, 2010

HP Chops 9000 Jobs

HP said today that the firm is cutting 9000 jobs as part of a restructuring of the company. According to HP, the cuts are part of a restructuring to create a "next generation" Enterprise Services business. HP did not say what portions of the company would be most affected by the move, but said it would also take a charge of approximately $1B due to the cuts and restructuring. HP is expecting to save approximately $1 billion in annualized gross savings.