Around 15,000 jobs could be set to go in a reorganization of Hewlett-Packard that has just been finalised. The job cuts are likely to be announced later today.
The layoffs are part of CEO Mark Hurd's cost-cutting measures to bring HP's spending more in line with that of its rivals. The Palo Alto, Calif.-based company has been paring down its work force over the past year, making cuts in the storage and server group and in the printing and imaging group that resulted in a $177 million charge during its fiscal second quarter.
The cuts would represent less than 10 percent of HP's employees, and seem necessary. Wall Street analysts have suggested HP should make cuts of between 5,000 and 25,000 employees to keep competitive.