Hewlett-Packard said today it would eliminate 27,000 jobs as part of CEO Meg Whitman's plan to restructure the bellwether technology giant and cut costs.
The job cuts represent 8 percent of HP's work force, and would be completed by the end of fiscal 2014, the company said today.
In addition, HP will reduce expenses by streamlining its supply chain, narrowing its product portfolio, simplifying its market strategy, and improving its standard business practices. The cuts are expected to generate savings of $3 billion to $3.5 billion after fiscal 2014. The savings will be reinvested in the … Read more