Hewlett
Packard Co plans to lay off roughly 27,000 employees or about 8 per cent of its
workforce over the next couple of years to jumpstart growth and save up to $3.5
billion annually, sending its shares 11 percent higher.
The company said the
layoffs would be made mainly through early retirement and would generate annual
savings of $3 billion to $3.5 billion as it exits fiscal year 2014, when the
layoffs are expected to the completed.
The world’s No. 1 personal computer maker, which employs more than
300,000 people globally, also said on Wednesday that it had a 31 percent
decline in second-quarter profit and a 3 per cent decline in revenue, compared
with a year ago.
Source : IBN
Live