HP announces mass lay-offs

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HP announces mass lay-offs

HP will slash between 10 and 15 percent of its workforce as part of a global cost-cutting campaign instigated by CEO Meg Whitman following her appointment as HP boss last year.

According to several reports, HP will let go anywhere between 25,000 and 48,000 of its 324,000 employees.

Whitman has previously said "everything is on the table" in regard to HP's ongoing campaign to streamline its internal operations.

In a Q&A last week at HP's Global Influencer Summit in Shanghai, China, Whitman offered examples of areas she thinks could be improved.

"The vast majority of our cost structure is goods sold and procurement," she said at the event. "We have to think about how to use the supply chain to our best advantage."

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Whitman said HP's China-based operations would not be impacted on any large scale but declined to comment on which of its global operations would be affected.

Another Whitman battle cry is that HP needs to "double down" on R&D in all its business units. But in HP's first-quarter earnings in February, Whitman made it clear that HP will need to cut costs before this can happen.

"On the current trajectory, we just won’t have the capacity that we need to invest," she said during the earnings call.

This article originally appeared at crn.com

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