Hewlett-Packard to cut 14,500 jobs
Computer maker Hewlett-Packard Co. on Tuesday said it will cut 14,500 jobs, about 10 percent of its full-time staff, as part of a restructuring plan designed to save $1.9 billion annually and boost business performance. Looks like a bunch of HP staff is about to get the boot, because I know that 14,500 people are notgoing to take the voluntary retirement program.
The job cuts will occur over the next six quarters, the Palo Alto-based company said. Most of the job cuts will come in support functions ? such as information technology, human resources and finance ? HP also said that as of January 2006, it will freeze the pension and retiree medical-program benefits of current employees who do not meet defined criteria based on age and years of company service.
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