HP axes 5,900 jobs in Europe
PrintOn the cards
Posted in Business, 3rd July 2002 15:26 GMT
Free whitepaper – PowerEdge M610-M710 spec sheet
Hewlett-Packard is to axe 5,900 jobs in Europe as part of a plan to reduce its global workforce by ten per cent over the next 18 months.
In total, the company will shed some 15,000 jobs out of a total workforce of 150,000.
It did not disclose any further details about the restructuring.
In a statement HP said that those employees hit by the job cuts would receive "comprehensive severance arrangements that will include financial compensation and job search placement".
HP said that it regretted the jobs cuts, adding that they were necessary to meet cost savings of $3bn a year by 2004. ®
Related Story
Free whitepaper – SPECjbb2005 performance and power consumption on Dell, HP, and IBM blade servers
What Exchange can't do - and Dell can
Enabling the Agile Data Center
Hosted CRM Can Be Your Secret Weapon to Success!
Market Primer: ERP Systems
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter