{"id":13418,"date":"2012-05-24T00:25:14","date_gmt":"2012-05-23T22:25:14","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=13418"},"modified":"2012-05-24T13:52:04","modified_gmt":"2012-05-24T11:52:04","slug":"hewlett-packard-to-shed-27000-workers","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/hardware\/13418\/hewlett-packard-to-shed-27000-workers\/","title":{"rendered":"Hewlett Packard to shed 27,000 workers"},"content":{"rendered":"<p><a title=\"Hewlett-Packard Co\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2007-Hewlett-Packard\">Hewlett Packard Co<\/a> outlined a plan on Wednesday to lay off roughly 27,000 employees or about 8 percent of its workforce to jumpstart growth.<\/p>\n<p>The layoffs, which will be mainly achieved through early retirement offers, will generate annual savings of $3 billion to $3.5 billion as it exits fiscal 2014, the company said.<\/p>\n<p>The world&#8217;s No. 1 personal computer maker, which employs more than 300,000 people across the globe, also reported a 3 percent decline in quarterly revenue.<\/p>\n<p>The job cuts, savings from which would be reinvested in the company, are &#8220;necessary to improve execution and to fund the long term health of the company,&#8221; Chief Executive <a title=\"Meg Whitman\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2130-Meg-Whitman\">Meg Whitman<\/a> said in a statement.<\/p>\n<p>The company will take a pretax charge of $1.7 billion in fiscal 2012 because of the cost-cutting plan, it said.<\/p>\n<p>HP said net revenue in the fiscal second quarter fell to $30.7 billion. Analysts had predicted revenue of $29.92 billion on average, according to Thomson Reuters I\/B\/E\/S.<\/p>\n<p>HP shares were up 6 percent at $22.35 after hours from a close of $21.08.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hewlett Packard Co outlined a plan on Wednesday to lay off roughly 27,000 employees or about 8 percent of its workforce to jumpstart growth.<\/p>\n","protected":false},"author":7,"featured_media":1475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[25,273,1860],"class_list":["post-13418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hardware","tag-active","tag-hewlett-packard","tag-layoffs"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=13418"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13418\/revisions"}],"predecessor-version":[{"id":13488,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13418\/revisions\/13488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/1475"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=13418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=13418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=13418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}