Feeds

HP throws an extra 2,000 staff onto chopping block

29,000 bods at risk of redundancy, morale problematic

Beginner's guide to SSL certificates

HP has added an extra two thousand workers to its mass redundancy programme, it confirmed today.

Back in May the troubled US tech titan threatened to axe 27,000 jobs by the end of fiscal 2014 to cut overheads and use some of the savings to invest in R&D. However, in a 10Q form filed today with US financial watchdog SEC, HP revealed an upwards shift in the potential body count.

"The restructuring plan includes both a voluntary early retirement program for eligible US employees and non-voluntary workforce reductions and is expected to result in 29,000 employees exiting the company by the end of that period," Hewlett-Packard declared in its paperwork.

The firm has been hit hard by falling demand for printer hardware and consumables, and rocked by the shift in buying habits toward tablets and smartphones instead of traditional PCs.

In response, HP has already folded together its printer and PC businesses and cobbled together the enterprise servers, storage and networking unit with the global accounts and services teams. The firm is also centralising its marketing and communications functions.

"We are working to improve our execution and financial performance and to align our cost structure with our revenue and margin profile," HP stated.

"These efforts are designed to enable us to invest in our business to respond to industry shifts and capitalise on emerging opportunities in areas like cloud computing, security, and information management," it added.

There's nothing like a regulatory filing to get a better view of what's going on under a company's hood. HP said there are "significant risks" associated with its actions that could stall the redundancy plan or harm its business, including delays to implementation caused by the "highly regulated" regions of Europe and Asia.

It added "decreases in staff morale and the failure to meet operational targets due to the loss of employees" were also potential issues it deemed worth highlighting to investors. ®

Remote control for virtualized desktops

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
prev story

Whitepapers

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.
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.
Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?