HP job cuts in Europe to total 5,900

The computer and printer maker declines to say which countries will be most affected and whether the jobs will be from the old Hewlett-Packard or Compaq.

Aug. 16, 2002 2:05 a.m. PT

Computer giant Hewlett-Packard said Wednesday it plans to make 5,900 job cuts in Europe from the total of 15,000 already announced worldwide, as part of its merger with Compaq Computer.

A company representative in Germany declined to break the numbers down to say which countries will be most affected and whether the jobs will be from the old HP or Compaq.

The company is likely to give more information on the subject next week, the representative added. The German units of HP and Compaq will be merged after the current business year ends Oct. 31.

HP expects to save $3 billion by the end of 2004 from the merger and will reach its original $2.5 billion cost-savings target in 2003, Compaq has said. Executives have said the merger would cost $2.6 billion.