HP’s multiyear layoff keeps growing bigger. On Thursday, the company said it was going to cut another 11,000 to 16,000 positions.
That’s in addition to the 34,000 jobs it officially confirmed in December. So we’re now talking 45,000 to 50,000 jobs cut.
Here’s what HP said in its press release:
In May 2012, HP adopted a multi-year restructuring plan designed to simplify business processes, accelerate innovation, lower costs and deliver better results. HP previously estimated that 34,000 positions would be eliminated in connection with the plan. As HP continues to reengineer the workforce to be more competitive and meet its objectives, the previously estimated number of eliminated positions will increase by between 11,000 to 16,000.
In December, it officially increased the layoff by 5,000 jobs above the 29,000 jobs it had previously announced. (It had already warned it might shed more than 29,000 jobs. But in December, it made that number official).
And that was an increase from the 27,000 jobs it announced in May 2012, as first reported by Business Insider.
In October, 2013, HP CEO Meg Whitman said that the company would not do another big layoff once this round was over.
She promised, “After 2014, we are not going to do another big restructuring.”
This layoff, whatever its final number, is supposed to be completed by October 2014, the end of HP’s fiscal 2014 year, HP said when it first announced the job cuts in 2012.
HP says it currently has 331,000 employees.
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