Hewlett-Packard Expands Job Cuts By 2,000
Don't Miss This
- Man Accused Of Stabbing Sacramento Woman To Death Arrested
- Old Sacramento’s Gold Rush Days Panned Because Of Drought
- Colusa Husband And Wife Arrested For Allegedly Kidnapping Teen Who Made Their Child Cry
- Dolls Lefts On Doorsteps Were Meant To Spread Cheer Not Chill
- 5 Women Who Have Been Killin’ It This Summer
Get Breaking News First
NEW YORK (AP) — Hewlett-Packard is planning to cut about 2,000 more jobs than it had previously announced, as CEO Meg Whitman tries to turn the company around.
In a regulatory filing Monday, the computer and printer maker says it will cut 29,000 jobs by October 2014, up from the 27,000 cuts it announced in May.
It didn’t explain why it had raised the number. As before, it expects some of the job cuts to come through an early retirement program.
The company also says it expects to record charges of $3.7 billion, mainly for the job cuts. That’s up from the May estimate of $3.5 billion.
Last month, HP posted the largest loss in its 73-year history. It’s been hit by the shift in technology spending from PCs and printers towards cellphones and tablets.
Copyright 2012 The Associated Press.