HP to cut 16,000 jobs

Breaking News May 23, 2014 00:00

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San Francisco - Technology giant Hewlett-Packard is to cut 16,000 jobs worldwide, the company said Thursday.

The job cuts come on top of a previously announced cull of 34,000 jobs that was part of a major restructuring effort launched in May 2012.
HP announced the new round of cuts as it posted earnings for the second quarter of 2014, which saw sales fall by one per cent to 27.3 billion dollars.
Net profit reached 1.27 billion dollars, up from nearly 1.08 billion dollars a year ago.

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