Thursday, September 21, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Facebook to Provide Congress With Ads Linked to Russian Internet Research Agency
Casio Announces Connected Watches For Men's G-SHOCK G-STEEL Line
AMD Said to Make AI Chip for Tesla
Mercedes to Invest $1 Billion in Alabama Electric Vehicle Factory
Your Next Smartphone's GPS Will be Extremely Accurate
Imagination Announces New PowerVR Series9XE and 9XM PowerVR GPUs, PowerVR 2NX NNA Hardware Neural Network Accelerator
Bose QC35 II Headphones are Optimized for the Google Assistant
GLOBALFOUNDRIES Introduces New 12nm FinFET Technology
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > HP Cuts...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, May 23, 2012
HP Cuts 27,000 jobs, Eyes $3 billion Savings To Spend On Research


HP on Wednesday outlined plans to lay off roughly 27,000 employees to save up to $3.5 billion by 2014 and reinvested back into the company.

HP expects the restructuring to generate annualized savings in the range of $3.0 to $3.5 billion exiting fiscal year 2014, of which the majority will be reinvested back into the company. HP expects to use the savings to boost investment in innovation around its three areas of strategic focus: cloud, big data and security, as well as in other segments.

As part of the restructuring, HP expects approximately 27,000 employees to exit the company, or 8.0% of its workforce as of Oct. 31, 2011, by the end of fiscal year 2014. The company is also offering an early retirement program.

In addition to these restructuring actions, HP expects to achieve additional savings from non-headcount cost reductions, including supply chain optimization, SKU and platform rationalization, go-to-market strategy simplification and business process improvement.

"These initiatives build upon our recent organizational realignment, and will further streamline our operations, improve our processes, and remove complexity from our business," said Meg Whitman, HP president and chief executive officer. "While some of these actions are difficult because they involve the loss of jobs, they are necessary to improve execution and to fund the long term health of the company. We are setting HP on a path to extend our global leadership and deliver the greatest value to customers and shareholders."

HP expects to reinvest savings in research and development to drive differentiation across its core printing and personal systems businesses, as well as emerging areas. It will also invest in marketing, sales productivity and tools.

Services will invest in accelerating service capabilities in the areas of cloud, security and information analytics by enhancing HP intellectual property.

Software will invest to speed development in the areas of security, big data and the management of application lifecycle and infrastructure solutions, both on premise and in the cloud. It will also further leverage the capabilities of Autonomy and Vertica across the entire HP portfolio.

Enterprise Servers, Storage and Networking will invest to accelerate its research and development activities to extend its portfolio of servers, storage and networking.

As a result of this restructuring, HP expects to record a pre-tax charge of approximately $1.7 billion in fiscal 2012 that will be included in its GAAP financial results for that period. Through fiscal 2014, HP expects to record additional pre-tax charges approximating $1.8 billion that will be included in its GAAP financial results for the appropriate periods.

HP said net revenue in the fiscal second quarter fell to $30.7 billion.


Previous
Next
Samsung, Apple Settlement Talks Stall        All News        Google Search app For iPhone Gets Faster
Google Didn't Infringe on Oracle Java Patents     General Computing News      Facebook, Morgan Stanley Accused Of Hidding Pre-IPO Analysts' Forecasts

Get RSS feed Easy Print E-Mail this Message

Related News
HP Announces New Premium PCs, Offers Sevice As a Service, Launches University for Partner Employees
HP Announces new OMEN X Laptop
HP's Z VR Backpack G1 Workstation Puts Pros Into the VR World
HP Takes Back PC Shipment Crown from Lenovo
HP Debuts Omen Accelerator, Powerful Omen and Omen X Compact Desktops
HP Debuts New Premium PC Portfolio Taking On Microsoft's Surface Models
Hewlett Packard Enterprise Reveals Powerful " The Machine" Computer Prototype, Although Key Technology Is Missing
HP Patches Keylogging Bug in Laptops
New HP Zbook Laptops Take On Apple's Mac Pro
HPE to Buy Nimble Storage for $1.09 billion
MWC: HP Announces The Pro x2 612 G2 Commercial Detachable
HP Recalls More Than 100,000 Laptop Batteries

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .