Hewlett-Packard to slash 3,000 jobs
On Tuesday, the world’s leading personal computer maker Hewlett-Packard said, that it would slash 3,000 jobs while it makes a $1-billion switch to fully automated data centers.
"As a result of productivity gains and automation, HP expects to eliminate roughly 9,000 positions over a multiyear period to reinvest for further growth and to increase shareholder value," the Palo Alto, California-based company said in a statement.
In a presentation to analysts, the company said it would geneerate 6,000 jobs in sales and deliveries as part of the restructuring.
The operation of HP estends to 170 countries, and has about 300,000 employees.
Part of the plan is to take a charge of around $1 billion over the next several years for the technology upgrade, enabling clients "to run their businesses faster and more efficiently."
HP expects the restructuring to deliver gross annual savings of about $1 billion, and net savings of $500-700 million after reinvestment.
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