HP CEO Meg Whitman to Cut 30,000 Jobs Next Week

Written by John Ponio    Friday, 18 May 2012 13:36

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HP's new-ish CEO Meg Whitman is said to be cutting 30,000 jobs as soon as next week. Around 10% of HP's 324,000 work-force could be either voluntarily retired or laid off. Whitman plans to use the money they'll save to invest in creating new products and increasing efficiency in the sales force.This is pretty much a result of Meg Whitman trying to turn HP back around after some not-so-great CEOs ruined their stock price and just about broke the company. Whitman has been restructuring everything, and so far she's managed to do a pretty good job (except for that whole selling-off-the-computer-division scare). The sources of this news are anonymous HP executives, but we should expect to see official news this Wednesday when HP announces their second-fiscal-quarter earnings. An official plan for the layoff should also be anounced.

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