Latest News

Lines are closed.
Please call back when we are open

Mon/Fri: 8.30am - 6pm

HP may cut 27,000 jobs worldwide

Thursday May 24th 2012

As many as 27,000 employees worldwide could lose their jobs at Hewlett Packard (HP) after the company revealed plans to scale back its business.

The global market is becoming focused on smartphones and tablet computers, which has caused the US firm difficulties - leading to job losses that could equate to 8% of its 350,000 worldwide staff.

HP, based in Palo Alto near San Francisco, California, said that alongside other money saving schemes, the staff losses would free up £2.2 billion for the firm to put into "cloud" storage development and other growing market areas.

A spokesperson for HP said: "We do expect the workforce reduction to impact just about every business and region."

A member of staff already set to leave is chief executive of HP's autonomy section, Dr Mike Lynch. The autonomy section used to be an independent firm in the UK before Dr Lynch sold it to HP in 2011 for £7.1 billion.

In order to reduce the number of enforced job losses, HP plans to offer many of its staff early retirement.

The exact plans and details of job reductions in each country will depend on varying national requirements in law and talks with different employment bodies.

Copyright Press Association 2012

How would you cope financially if you lost your job, fell seriously ill, or had an accident? Our great value Income Protection Insurance helps you plan for the unexpected and comes with added extras you won't always find with other insurers!