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 2:42:10 PM
To be fair Tony (and I do think you have a point), I think people ARE rising up against the PC OEMs.
They're rising up and buying Apple, according to sales! Not necessarily Apple laptops and desktops, as people already have desktops that are "good enough" for them for now, but they've been buying iPad's like crazy. Might translate to more computer sales down the road.
I'm also that rare troll that objectively can look at the pictures and see plain as day that Samsung was ripping off Apple as best it could in the interface area. PC OEMs have tried the same. Apple's been ahead in more then just design, too; they've been pushing the envelope in displays too. MS and Intel have both been quietly trying to say the same thing you have for many years; look at MS's attempt (Signature, is it?) to remove crapware from new PCs.
"If a man really wants to make a million dollars, the best way would be to start his own religion." -- Scientology founder L. Ron. Hubbard
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
Inspiron Laptops & 2-in-1 PCs
September 25, 2016, 9:00 AM
The Samsung Galaxy S7
September 14, 2016, 6:00 AM
Apple Watch 2 – Coming September 7th
September 3, 2016, 6:30 AM
Apple says “See you on the 7th.”
September 1, 2016, 6:30 AM
Apple sued because of iPhone 6 Touch Disease
August 31, 2016, 7:00 AM
Get Ready to wait in line – iPhone 7 due September.
August 18, 2016, 7:15 AM
Most Popular Articles
Update: Problem-Free Galaxy Note7s CPSC Approved
September 22, 2016, 5:30 AM
FDA Cleared, Shockwave Lithoplasty for Peripheral Vascular Disease
September 22, 2016, 5:45 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM
Are you ready for this ? HyperDrive Aircraft
September 24, 2016, 9:29 AM
Smartphone Screen Protectors – What To Look For
September 21, 2016, 9:33 AM
Latest Blog Posts
Burlington Gun Attack
Sep 27, 2016, 5:00 AM
Who is in Risk of Getting Oral Cancer?
Sep 23, 2016, 6:02 AM
France Bans Plastic Eating Utensils in Restaurants
Sep 18, 2016, 10:49 AM
Progress Against Acute Myeloid Leukemia
Sep 17, 2016, 5:30 AM
Apple Watch Series 2 - Number 1 in the Customer Satisfaction.
Sep 7, 2016, 6:19 PM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information