PALO ALTO: Personal computer giant Hewlett-Packard Co.has verified that it desires layoffs at the upper end of a variety that it defined a few months ago, with 5,000 more employees than initially planned predicted to lose jobs by Oct 2014.
The organization said in a securities filing Monday that “continued market and business pressures” were behind the move. The additional reduces, on top of the 29,000 roles it organized to cut in a May 2012 reorientating plan, will likely increase the gathered reorientating expenses to $4.1 billion from $3.6 billion , it said.
Hewlett-Packard said in March that its approximated cost reduction could differ by as much as 15 % from its original estimate. At an October conference with experts, Chief Financial Official Cathie Lesjak said the company organized to end up “near the high end” of that range.
Cost reduces have helped HP weather revenue decreases in PCs, publishing and business services. In the fiscal year through Oct. 31, income dropped 7 % to $112.3 billion , but the organization published $5.1 billion in net profit, compared with a $12.7 billion loss a year before.
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