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HP mulls cutting at least 25,000 jobs: sources
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A woman walks past the Hewlett Packard logo at its French headquarters in Issy le Moulineaux, western Paris, in this September 16, 2005 file photograph.
Credit: Reuters/Charles Platiau/Files
By Poornima Gupta
Thu May 17, 2012 3:25pm EDT
(Reuters) - Hewlett-Packard Co is considering cutting its workforce by 8 to 10 percent, or a minimum of 25,000 jobs, sources familiar with the matter told Reuters, as newly installed CEO Meg Whitman strives to return the storied Silicon Valley institution to growth.
The job cuts, which could include retirements, are under discussion but have not yet been finalized, several people familiar with the situation told Reuters. The sources did not elaborate on a time frame or other details.
HP, which employs more than 300,000 people across the globe, could announce the layoffs as soon as next week when it unveils quarterly results, said the sources, who asked to remain anonymous because the plan has not been made public.
Analysts have been expecting job cuts in the wake of Whitman's plan to merge the company's personal computer and printer divisions.
Shares of HP, the leading PC maker, were up 5 cents at $22.08 in afternoon trade.
(Reporting by Poornima Gupta; editing by John Wallace)
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