HP to cut 24,000 jobs; Australian jobs uncertain

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HP to cut 24,000 jobs; Australian jobs uncertain

HP, the world’s largest technology company, is shedding 24,000 jobs in a bid to cut costs and streamline the company’s structure.

The cut represents 7.5 percent of HP’s global workforce, with half of those jobs in the U.S.

HP Australia told iTnews that it could not confirm whether any jobs would be lost in Australia.

HP said in a press release today that employees would be given severance packages, counselling and job placement services.

The restructuring program is expected to take three years and save US$1.8 million. As well as cutting jobs, HP will consolidate real estate, IT and procurement services.

After the program is completed, HP will replace about half of those positions to "create a global workforce that has the right blend of services delivery capabilities to address the diversity of its markets and customers worldwide."

The restructure affects HP’s latest acquisition, EDS, an IT services company it bought in August. HP aims to integrate EDS into its service provision arm.

HP said that “with EDS, HP is a leading globally scaled service provider that combines innovation, a stronger product portfolio and expanded service delivery capabilities.

Mark Hurd, HP chairman and CEO, said, "HP now has the broadest technology capabilities in the market to meet customer needs today and in the future. HP has a strong track record of making acquisitions and integrating them to capture leading market positions.

"We will deliver on the promise of HP and EDS for our customers and shareholders."
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