Hewlett-Packard Cuts An Additional 5000 Jobs
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In Hewlett-Packard’s (HP) annual report that was released yesterday, the company states that they are laying off an additional 5,000 jobs. This is coming off their July 2013 announcement of releasing 29,000 employees now bringing the total to 34,000 employees being laid off by the end of the 2014 fiscal year.
The move is expected to save HP somewhere between 3.5 and 4 billion dollars. Since the July announcement of laying off 29,000 employees, investors have actually heavily jumped on board with HP as their stock prices have continued to climb steadily throughout 2013.