H-P To Slash Work Force By Up To 30,000

[katharnak]

Hewlett-Packard Co. plans to cut its workforce by 25,000 to 30,000 employees, people familiar with the matter said, a record number for the venerable technology giant as it grapples with declining revenue and profits.

Cuts in that range would constitute about 8% of H-P's total head count, which stood at approximately 349,600 at the end of October. The people familiar with the matter said that the cuts would be across the company and that the exact number wasn't yet final. One person said that a formal announcement could come when the company reports quarterly results next week.

The job cuts ...http://online.wsj.com/article/SB10001424052702303448404577410403669187054.html