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HP to lay off 27,000, profit slides 31 percent
Made popular 390 days ago in
SAN FRANCISCO (Reuters) - Hewlett Packard Co plans to lay off roughly 27,000 employees or about 8 percent of its workforce over the next couple of years to jumpstart growth and save up to $3.5 billion annually, sending its shares 11 percent higher.
The company said the layoffs would be made mainly through early retirement and would generate annual savings of $3 billion to $3.5 billion as it exits fiscal year 2014, when the layoffs are expected to the completed.
The world's No. 1 personal computer maker, which employs more than 300,000 people globally, also said on Wednesday that it had a 31 percent decline in second-quarter profit and a 3 percent decline in revenue, compared with a year ago.
The results, however, were better than Wall Street expectations.
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27,000 more victims of Obamanomics?
Yes, and unemployment figures will neen to be further manipulated.
No, they had to do it in order to maintain the non profit status that Obama loves so much.
This is not a scientific survey,
to learn more. Results may not total 100% due to rounding and voting descrepencies.
390 days ago
No, the profit status the Republicans like, growth in EPS by firing people and giving more money to meg ryan the CEO
389 days ago
@Free Pull your head out and hear the POP free.
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Great Recession hangover: What happened to America's lost wealth?
Made popular 18 days ago
Who's to blame for this calamity?
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