Feeds

New round of HP firings to cost $200m

Eyes on the server and storage teams

  • alert
  • submit to reddit

SANS - Survey on application security programs

HP revealed on Tuesday that its latest round of job cuts will cost the company $200m through the first half of 2005.

During HP's fourth quarter earnings announcement, the company said it would continue to cut costs in its server and storage units with layoffs being the main cost-cutting tool. Such cuts have been commonplace since HP acquired Compaq. HP, however, continues to struggle to keep the server and storage groups profitable.

"As a part of their ongoing cost structure management, HP’s various businesses routinely review the size of their workforces and make adjustments they deem appropriate after evaluating a variety of factors," HP said in a regulatory filing. "In connection with providing an outlook for the first half of fiscal 2005, HP announced on November 16, 2004 that its planning assumptions included workforce reductions across HP's businesses that would have a net impact of approximately 4 cents per share in the period. HP expects that expenses for workforce reductions in the period will total approximately $200 million."

HP has not issued word on exactly how many workers will get the axe. ®

Related stories

HP redeems pride with strong Q4
Dell, AMD make Friday bull run
Dell gets meagre $240m package for North Carolina plant

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.