HP to cut 16,000 more jobs

Restructuring efforts will have cost 50,000 jobs at HP

Tags: Hewlett-Packard Company
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HP to cut 16,000 more jobs Meg Whitman, HP CEO, has announced a further 16,000 job cuts at the company.
By  Mark Sutton Published  May 25, 2014

Hewlett-Packard has announced that it will cut a further 16,000 jobs as part of it ongoing restructuring efforts.

The additional job losses, which the company says will be made across different regions and business areas, will bring the total of jobs cut from HP to 50,000, as CEO Meg Whitman continues with efforts to turn the company around.

The company has already cut 34,000 jobs over the past three years. HP employs around 250,000 people worldwide.

HP posted a revenues of $27.3 billion in its Q2 financial results, marking a drop of more than one percent, and missing analyst expectations of around $27.43bn. The results marked the company's 11th consecutive quarterly revenue decline.

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