HP Stock Down 5% After Hours On Word Of Bearish Internal Memo

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HP’s stock is plunging after hours as Bloomberg reports that Leo Apotheker sent an internal memo warning of “another tough quarter.”

Shares are down more than 5% right now.

The memo urges deputies to “watch every penny and minimize all hiring” and calls the company’s current headcount expansion plans “unaffordable.”

“We have absolutely no room for profitless revenue or any discretionary expenditures,” the memo reportedly says.

HP announces third quarter earnings on Wednesday after close.

HP EMPLOYEES: We want that memo. Anonymity guaranteed.