HP Reportedly Will Cut 25,000 Jobs
HP is looking to cut at least 25,000 jobs in a bid to reduce costs and return to growth, according to media reports.
The cuts are expected to hit between 8 and 10 percent of the company's more than 300,000 employees across the world, Reuters' sources have said. The sources said that the job cuts are "under discussion" but have not been finalized.
Job losses could be announced as early as next week to coincide with HP's quarterly results. However, no time frame has been set for the redundancies, and the location of cuts is not known.
HP said it is not commenting on the "speculation." HP's CEO and president Meg Whitman has been recently traveling the world to reaffirm the company's commitment to its customers.
At an event in London last week, she pledged to boost investment in R&D, declaring that innovation at the company was "alive and well."
Meanwhile in Shanghai, she reiterated HP's commitment to its PC business, promising that its new Printers and Personal Systems (PPS) division would get "more than its fair share" of the R&D investment.