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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