HP (Hewlett-Packard) to cut 3,000 jobs

Written by Mohammed Farooq

Topics: Laptop

Hewlett-Packard Co said it aims to boost margins by cutting jobs and reallocating spending to more profitable technology services, shrinking its workforce by a net 3,000 jobs, or 1 per cent, over three years.

The move, which will result in a $1 billion charge, comes as rivals like IBM and Cisco Systems Inc vie for supremacy in the lucrative business of fitting out and helping run corporate data centers that handle communications and store huge amounts of information.

HP made a major expansion into technology services with its $14 billion acquisition of EDS in 2008, and it said yesterday’s announcement was a further attempt to bolster its enterprise business.

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