Feeds

New round of HP firings to cost $200m

Eyes on the server and storage teams

  • alert
  • submit to reddit

The Power of One Infographic

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

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
Big Blue Apple: IBM to sell iPads, iPhones to enterprises
iOS/2 gear loaded with apps for big biz ... uh oh BlackBerry
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.