HP to cut as many as 30,000 jobs


On Tuesday, Hewlett-Packard announced it expects to cut between 25,000 to 30,000 jobs in its enterprise business in order to save $2.7 billion in costs.
Later this year, the company will separate the corporate hardware and services operations, to be called Hewlett Packard Enterprise, from its computer and printer businesses, Reuters reports. As of Oct. 31, 2014, HP had more than 300,000 employees, and Chief Executive Meg Whitman's multi-year restructuring plan called for 55,000 total job cuts. "We've done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring," Whitman said.
HP's revenue from personal computer and printer businesses dropped 11.5 percent in the latest quarter, and enterprise services division sales fell 11 percent. HP said Hewlett Packard Enterprise is expected to have more than $50 billion in annual revenue in 2016.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
June 22 editorial cartoons
Cartoons Sunday’s political cartoons include a SpaceX flight, Bibi pulling Donald Trump toward war, and an ICE agent looking like a bank robber
-
5 bunker-busting cartoons about the Israel-Iran war
Cartoons Political cartoonists take on Iran waiting for Pete Hegseth to leak war plans and Donald Trump's wish for a Nobel prize
-
Malaysia's delicious food and glorious beaches
The Week Recommends From 'colourful' George Town to the 'jungled interior' of Langkawi, Malaysia is incredibly diverse
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores