Feeds

HP's 15,000 job cuts look imminent

Rumour, speculation, no comment

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

HP's long awaited re-structuring could start as early as next Monday, according to reports, with as many as 15,000 jobs thought to be on the line.

CNet and the Wall Street Journal both cite unnamed sources close to the company saying that the axe is likely to fall early next week. CNet's source says Monday, the WSJ's prefers the Tuesday option.

Analysts have been expecting cuts at the tech firm for a while. Back in May Sanford C. Bernstein & Co. analysts predicted HP would soon opt to reduce its workforce by five to ten percent. Making the cuts could save HP between $750m and $1.5bn per year.

CEO Mark Hurd also warned that restructuring was on the horizon back in April when he took on Carly's mantle. He promised then that he would continue with a workforce reduction plan that was already in place. After the company posted so-so results for Q2 this year, he reiterated his determination to reduce costs.

HP itself has declined to join the discussion, saying that it "does not comment on rumour and speculation". ®

Related stories

Analysts circle HP with CEO's hammer expected to come down
HP to drop 3,000 staff in fiscal '05
15,000 HP workers get nervous as analyst predicts massive job cuts

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.