Friday, June 21, 2024

HP’s Whitman to Announce Restructuring Plan Wednesday; 30,000 Jobs Targeted

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All Things D: Unnamed sources say that HP CEO Meg Whitman will announce a restructuring plan for the company–which will include significant layoffs–next Wednesday. Various news outlets are reporting different job reduction numbers. Sources told All Things D that the total would be about 30,000; Bloomberg says the total will be closer to 25,000. Others say the layoffs could affect 10 to 15 percent of HP’s 320,000 workers. Sources say that up to 5,000 job cuts could come as a result of employees opting to take early retirement packages.

Whitman is expected to announce that the job cuts are necessary so that the company can make needed investments.

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