HP Laying Off Another 5,000 Employees Bringing The Total To 34,000



Hewlett-Packard is dropping the hammer down on another 5,000 employees bringing the total number to 34,000. The plan is to have the layoffs complete by the end of 2014. The landscape has drastically changed and HP is finding itself sinking instead of swimming. PC Sales are losing steam with users favoring more mobile devices such as tablets and Chromebooks.

Due to continued market and business pressures, as of October 31, 2013, HP expects to eliminate an additional 15% of those 29,000 positions, or a total of approximately 34,000 positions, and to record an additional 15% of that $3.6 billion in total costs, or approximately $4.1 billion in aggregate charges. HP expects to record these charges through the end of HP’s 2014 fiscal year as the accounting recognition.

While HP has made an attempt in the tablet market, they have not succeeded with that attempt. HP’s latest attempt to get its head above water comes in the form of Chromebooks. They suffered a small blow when the Chromebook 11 had to be recalled due to some safety issues with the power supply. But Chrome OS is prime real-estate and just might help throw HP a life vest. Rumors have circled that PC makers are planning an uprising against Windows at CES 2014 in favor of Chromebooks and Chrome OS. HP already has two Chromebooks on the market and would love to see some sales in 2014. Hit the link below for source.

Source: Venture Beat

Last Updated on January 23, 2017.


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