September 16, 2008
Hewlett-Packard to Cut 24,600 Jobs Over 3 Years
SAN FRANCISCO (AP) -- Hewlett-Packard Co. said Monday it plans to slash 24,600 jobs over the next three years, nearly 8 percent of its work force, as it combines operations with Electronic Data Systems Corp., the technology-services company it recently acquired.
The cuts represent the Palo Alto-based company's most aggressive move yet to streamline its operations under Chief Executive Mark Hurd, who engineered the $13.9 billion acquisition to challenge IBM Corp. for more of the lucrative, long-term business of helping companies manage their computing infrastructure.
Most of the cuts will come from within EDS's ranks, and nearly half will be jobs in the U.S., HP announced Monday.
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