Feeds

HP throws an extra 2,000 staff onto chopping block

29,000 bods at risk of redundancy, morale problematic

Intelligent flash storage arrays

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. ®

Top 5 reasons to deploy VMware with Tegile

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?
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
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
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
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.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
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.