China Business Start-up Service
Hotline: 86-755-82143348, Email:anitayao@citilinkia.com
Hewlett-Packard plans to cut as many as 16,000 more jobs in a major ramp-up of chief executive Meg Whitman’s years-long effort to turn around the personal computer maker and relieve pressure on its profit margins.
Ms Whitman said the turnaround remained on track and her raised target reflected how HP continued to find areas to streamline across its broad portfolio, which encompasses computing, networking, storage and software. But some analysts wondered whether it signaled a worsening outlook for the coming year, or if more jobs may be cut.
HP, whose sprawling global operations employ more than 250,000, estimated about three years ago when it first hatched its sweeping overhaul that it would need to shed 27,000 jobs. That number rose to 34,000 last year.
Martin Murphy, managing director of HP Ireland, said the decision to construct a new facility in Galway as ‘an exciting and very important development’. Photograph: Dara Mac Dónaill/The Irish TimesHP to build new Galway facility
HP to lay off 27,000 staff
HP Ireland says it is working on investment projects
On Thursday, it estimated another 11,000 to 16,000 more jobs needed to go, scattered across different countries and business areas. That took the grand total under Ms Whitman’s restructuring to 50,000.
HP is one of Ireland’s largest employers with around 4,000 staff employed locally.
The Silicon Valley company is trying to reduce its reliance on PCs and move toward computing equipment and networking gear for enterprises, part of Whitman’s effort to curtail revenue declines and return the world’s biggest PC maker to growth.
But that goal remains elusive. The company posted a disappointing 1 per cent drop in quarterly revenue, as it struggled to maintain its grip on the shrinking personal computer market and weak corporate tech spending.
That marked its 11th consecutive quarterly sales decline.
Shares in HP closed down 2.3 per cent at $31.78, after the company inadvertently posted the results on its website more than half an hour before the closing bell.
Research jobs, which are vital for innovation and long-term growth, will continue to grow, Ms Whitman stressed.
ATAHK Shenzhen
Tel: 86-755-82143422 86-755-82143512
Email: anitayao@citilinkia.com QQ: 2355725089
Web: www.3737580.net www.for-shenzhen.net
Add: Unit C-D, 23/F, Taiyangdao Bldg, 2020, Dongmen R.S, Luohu, Shenzhen, China