Hewlett-Packard to cut 5,000 more jobs

Tue Dec 31, 2013 1:40pm EST

A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto, California January 16, 2013. REUTERS/Stephen Lam

A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto, California January 16, 2013.

Credit: Reuters/Stephen Lam

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(Reuters) - Hewlett-Packard Co said it would cut 5,000 more jobs, bringing the total number of layoffs to 34,000, or 11 percent of its workforce.

The company said in a regulatory filing on Monday that it would record a charge of $4.1 billion in 2014, up from its prior estimate of $3.6 billion. (r.reuters.com/kyf75v)

HP is striving to get back to growth through job cuts and focusing on businesses with longer-term potential such as enterprise services.

HP had estimated that it would cut about 29,000 jobs through fiscal year 2014.

The company had about 317,500 employees as of October 31.

Shares of the company were little changed at $27.92 on the New York Stock Exchange on Tuesday. The stock has gained 96 percent so far this year.

(Reporting by Soham Chatterjee; Editing by Don Sebastian)

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Comments (7)
UauS wrote:
How many did they hire in China?..

Dec 31, 2013 2:48pm EST  --  Report as abuse
Darn it HP, What happened to you? You were once such a great company. Hope you heal and make a nice comeback…

Dec 31, 2013 5:40pm EST  --  Report as abuse
O7zBN9Fh wrote:
I like HP. I hope it will do well again and shines.

Dec 31, 2013 7:39pm EST  --  Report as abuse
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