HP to Invest $1 Billion, Cut 9,000 Jobs in a Few Years

[bhrami]

Hewlett-Packard will invest $1 billion to relaunch its enterprise services as it consolidates various aspects of the division, the company said in a press release Tuesday.

The world's biggest PC maker said it expects to make annual savings of about $1 billion after reinvestment of $500-$700 million. It will consolidate its enterprise services' commercial data centers, management platforms, networks, tools and applications, the company said.

The $1 billion charge associated with the development will be spread over a multiyear period, the California-based company said.

As part of the re-launch, Hewlett-Packard expects to cut roughly 9,000 positions over several years.