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| Hewlett-Packard to cut 25-30,000 jobs | Hewlett-Packard to cut 25-30,000 jobs |
| (about 9 hours later) | |
| Hewlett-Packard has said it plans to cut between 25,000 and 30,000 jobs. | |
| The move is part of an effort to split the company into two units, which is set to take place in November. | The move is part of an effort to split the company into two units, which is set to take place in November. |
| The losses will come in Hewlett Packard Enterprise, which is splitting from the firm's printer and personal computer business. | The losses will come in Hewlett Packard Enterprise, which is splitting from the firm's printer and personal computer business. |
| The company says the cuts will save it $2.7bn (£1.76bn) in annual costs, but it will take a $2.7bn charge to execute the plan. | The company says the cuts will save it $2.7bn (£1.76bn) in annual costs, but it will take a $2.7bn charge to execute the plan. |
| At a meeting for Wall Street analysts, chairman and chief executive Meg Whitman said: "We've done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring." | At a meeting for Wall Street analysts, chairman and chief executive Meg Whitman said: "We've done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring." |
| The tech company has struggled over the last decade to keep up with changing demands as customers move away from desktop computers. | The tech company has struggled over the last decade to keep up with changing demands as customers move away from desktop computers. |
| It already plans to lay off 55,000 employees as part of the restructuring process that started in 2012. | It already plans to lay off 55,000 employees as part of the restructuring process that started in 2012. |