HP Increases Job Cut Forecasts to 29,000
September 11, 2012 2:40 AM
comment(s) - last by
The previous forecast was 27,000
Hewlett-Packard (HP) upped its number of job cuts to 29,000 globally -- 2,000 more than the computer maker previously forecasted.
Back in May, HP
predicted that it would cut 27,000 jobs
around the world in its new restructuring plan dubbed the "2012 Plan." Now, HP has adjusted that figure and plans to cut 29,000 jobs.
The latest figure was reported in HP's 10-Q quarterly filing with the U.S. Securities and Exchange Commission (SEC). HP plans on saving $3 to $3.5 billion by eliminating these jobs, which it will put toward Research and Development (R&D). As of July 2012, HP had already cut 3,800 jobs.
The filing noted that HP predicts charges of about $3.7 billion through the end of fiscal year 2014. About $3.3 billion of this will be the job cuts while another $400 million will be related to other areas like data center consolidation.
HP has had a pretty terrible time as of late. It had a terrible experience with former CEO Leo Apotheker, who was appointed in October 2010. Apotheker led the company to several missed financial goals and even tried to sell HP's core personal computer business.
killed off its webOS mobile operating system and its TouchPad tablets
last year due to overproduction, sloppy execution and slow hardware releases.
Just last month, HP
suffered an $8.9 billion USD loss
. However, analysts were impressed by the new restructuring plan by new CEO Meg Whitman.
This article is over a month old, voting and posting comments is disabled
RE: HP's new iMac must have been a flop
9/11/2012 2:34:42 PM
You mean, at least with their laptops, how Apple is largely copying the designs of Sony machines from 10 years ago. Sony built slim, light machines a decade before Apple ever did with a wedge shape design. They just weren't as thin and light due to technology.
But hey Apple invented it and deserved a patent on the shape of the Macbook Air.
“We do believe we have a moral responsibility to keep porn off the iPhone.” -- Steve Jobs
HP Swallows $8.9B USD Loss, But Analysts Praise Its Revamp Work
August 23, 2012, 3:33 PM
HP Plans to Cut 25-30k Employees, Force Those Left to be More Efficient
May 18, 2012, 1:49 PM
HP Buries WebOS, TouchPad
August 18, 2011, 3:43 PM
EU to Nokia: Don't Even Think About Becoming a Patent Troll
December 9, 2013, 10:29 AM
Apple's "iBeacon" Tracks Customers Inside Apple Stores for Enhanced Shopping Experience
December 6, 2013, 11:26 AM
Apple Says 74% of Its Mobile Devices Now Run iOS 7
December 6, 2013, 10:06 AM
Apple and Samsung See Virtual Tie in Q3 U.S. Sales, Nokia Seizes Fourth
December 5, 2013, 8:00 PM
AT&T Goes After T-Mobile with Reduced Off-Contract Prices, New Base Rates
December 5, 2013, 11:28 AM
MSI Unveils 3K Resolution GT60 Gaming, Workstation Notebooks
December 5, 2013, 11:00 AM
Most Popular Articles
Hackers Nab 2 Million Login Credentials from Facebook, Gmail, Twitter
December 5, 2013, 1:00 PM
Experts: Masturbation Prevents Cancer, Diabetes, Insomnia, and Depression
December 6, 2013, 2:01 PM
Thieves Steal Truck with Cobalt-60 Onboard in Mexico, Will Die "Without a Doubt" from Exposure
December 5, 2013, 12:04 PM
Man Arrested for Using 5 Cents Worth of Electricity to Charge Nissan Leaf at Middle School
December 4, 2013, 8:00 PM
New Reversible "Type-C" USB Plug Coming in Mid-2014
December 4, 2013, 10:38 AM
Latest Blog Posts
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
AT&T Explores $100B+ USD Deal to Acquire Vodafone's European Operations
Nov 4, 2013, 7:34 AM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information