Hewlett-Packard Co Adds To Layoff Tally, Now Plans 29,000 Job Cuts; Sees FY 2013, 2014 Charge Guidance-Reuters

Reuters reported that Hewlett-Packard Co (HP) now plans to layoff 29,000 employees, increasing the total number of job cuts by 2,000 over the next two years as it tries to kickstart growth. HP, which will cut jobs through a combination of involuntary cuts and early retirement offers, expects to take charges of about $3.3 billion through the end of fiscal 2014 for the workforce reductions. The Company also expects to take another $400 million in charges relating to data centers and real estate consolidation. HP will likely have cut 11,500 jobs by end of fiscal 2012.