- POSTED: 01 Jan 2014 02:36
- UPDATED: 01 Jan 2014 02:45
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US computer giant Hewlett-Packard will slash a total of 34,000 jobs in its huge multi-year restructuring that began last year, a regulatory filing showed.
NEW YORK: US computer giant Hewlett-Packard will slash a total of 34,000 jobs in its huge multi-year restructuring that began last year, a regulatory filing showed.
Some 24,600 positions had been eliminated as of October 31, of the 34,000 jobs to be cut by the end of its fiscal year next October, HP said in a filing with the Securities and Exchange Commission.
The company said in November the total number of jobs cut would be in a range of 33,000 to 34,000, up from an earlier estimate of 29,000.
The California-based firm, one of the biggest makers of personal computers, is in the midst of a multi-year restructuring to cope with the shift away from PCs to mobile devices.
The company said the increased job cuts were "due to continued market and business pressures."
The cuts will result in total charges of US$4.1 billion, HP said in the document.
HP posted a profit of US$5.1 billion on revenue of US$112.3 billion in the fiscal year that ended October 31, compared to a US$12.7 billion loss the prior year on revenue of US$120.4 billion.
Under chief executive Meg Whitman, HP has shaken up its executive leadership team as part of an effort to regain its footing on a computing landscape being transformed by the popularity of smartphones and tablets.