HP Increases Total Layoffs by Another 5,000
December 31, 2013 10:11 AM
comment(s) - last by
It has already cut 24,600 employees as of October 2013
Hewlett-Packard has increased its layoff count by another 5,000, bringing the grand total to 34,000.
According to a new report from
, HP plans to cut 34,000 employees total by October 2014. As of October 2013, HP had already completed 24,600 of this total, leaving 9,400 left to go.
This is a boost from previous layoff projections. In May 2012, HP said it would only cut 27,000 employees. Then, in HP's last quarterly earnings reports filed with the U.S. Securities and Exchange Commission (SEC), it bumped that number up to 29,000.
Now, in the company's annual report filed this week, that number jumped another 5,000 to 34,000 total.
HP currently has about 331,800 employees.
HP said the extra cuts are "due to continued market and business pressures."
[SOURCE: ABC News]
While HP hasn't had the easiest of times with the decline of the PC industry and all, it did manage to surprise analysts recently with
a revenue boost in Q4
According to HP, its fourth quarter revenue for 2013 was $29.1 billion -- beating analyst forecasts of $27.9 billion. HP also maintained its full-year earnings forecast. The hike in revenue was due to growth in its enterprise group, which provides businesses with servers, storage and networking products. The company said
increased 2 percent in the fourth quarter compared to the year-ago quarter. It rose 12 percent compared with the third quarter.
The fact that the PC industry continues to decline in the wake of mobile device releases like smartphones, tablets and convertibles is just one reason analysts didn't have high expectations for HP's fourth quarter earnings. However, the company reported a smaller-than-expected drop in PC sales for the quarter.
HP CEO Meg Whitman said in October that the new game plan is "multiple
, multiple architectures and multiple form factors," adding that HP is "moving quickly to produce the devices that customers want."
This article is over a month old, voting and posting comments is disabled
12/31/2013 3:10:47 PM
"multiple operating systems, multiple architectures and multiple form factors,"
This honestly is the most sense HP management has made in a long time. Wintel x86+Microsoft is a losing strategy. Microsoft is losing market share everywhere outside of the boring beige corporate desktop. Get off that failboat, escape the vendor lock-in, and they will win over consumers.
HP has a dilbert-like image in consumers minds today, nothing but laser printers and boring office equipment. ARM chips, Android, ChromeOS and other sexy technologies like ARM servers running Linux are what is going to win them new business.
"DailyTech is the best kept secret on the Internet." -- Larry Barber
HP Posts Surprise Q4 Revenue Boost, Sees Rise in Shares
November 27, 2013, 11:39 AM
HP CEO Says Microsoft, Intel are Now its Competitors
October 10, 2013, 2:42 PM
Former Palm CEO: Selling Palm to HP was a Waste
June 12, 2013, 10:19 AM
iLate: CEO Tim Cook Says Apple Watch Will Ship in April
January 28, 2015, 3:03 PM
Amazon's Fire Sale on Fire Phone Steps up in UK w/ 1-Day Sale @ $150 Unlocked
January 28, 2015, 11:53 AM
Apple Sees Record Profit of $18 Billion, Sells 74.5 Million iPhones in Q1 FY2015
January 27, 2015, 6:01 PM
Apple Might Miss High-End of Analyst Estimates, Microsoft Earnings Hint
January 27, 2015, 3:14 PM
Microsoft Smartphone Sales Up 28 Percent as Lumia Budget Models Gain Ground
January 27, 2015, 8:30 AM
Quick Note: Special 20th Anniversary PlayStation 4 Raises $128,000 for Charity
January 26, 2015, 4:14 PM
Most Popular Articles
Under the Hood: How DirectX 11.3 and 12 Will Supercharge Windows 10 Gaming
January 23, 2015, 12:34 PM
Microsoft Shows Off Latest Windows 10 Build, Preps it for Next Week Release
January 21, 2015, 2:57 PM
BlackBerry CEO Claims Devs are Violating Net Neutrality by Not Supporting BB10
January 22, 2015, 4:37 PM
2016 Cadillac CTS-V Packs 640 hp Punch with 200 mph Reach
January 23, 2015, 3:25 PM
Will Google Become America's Fifth Major Carrier?
January 22, 2015, 12:42 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information