Subscribe free to our newsletters via your
. Space Industry and Business News .




POLITICAL ECONOMY
Hewlett-Packard says 5,000 more job cuts needed
by Staff Writers
New York (AFP) Dec 31, 2013


Struggling US computer giant Hewlett-Packard plans to slash 5,000 more jobs than previously announced because of a difficult business environment, a regulatory filing shows.

HP will eliminate 34,000 positions by the end of its fiscal year next October, up from an earlier estimate of 29,000, said a document dated Monday and filed with the Securities and Exchange Commission.

The California-based firm, one of the biggest makers of personal computers, is in the midst of a multi-year restructuring to cope with the shift away from PCs to mobile devices.

The company said the increased job cuts were "due to continued market and business pressures."

That will add 15 percent to HP's one-time costs for the move, resulting in total charges of $4.1 billion, HP said in the document.

HP posted a profit of $5.1 billion on revenue of $112.3 billion in the fiscal year that ended October 31, compared to a $12.7 billion loss the prior year on revenue of $120.4 billion.

Under chief executive Meg Whitman, HP has shaken up its executive leadership team as part of an effort to regain its footing on a computing landscape being transformed by the popularity of smartphones and tablets.

ved-rl/pst

HEWLETT PACKARD

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
China says local government debt soars
Beijing (AFP) Dec 30, 2013
China on Monday announced the results of a long-awaited debt audit, revealing that liabilities carried by local governments ballooned to 17.9 trillion yuan ($2.95 trillion) as of the end of June. The figure, released by the National Audit Office in a statement on its website, compared with 10.7 trillion yuan as of the end of 2010 - an increase of 67 percent. Concerns have grown at the a ... read more


POLITICAL ECONOMY
Computers search for 'cheapium' versions of expensive materials

New computer memory can hold data 20 years without power

AVX Announces Market Introduction of First Space-Level BME MLCC

3D-printed components flown in British fighter jet

POLITICAL ECONOMY
Rocket Rokot brings 3 Russian military-purpose satellites on orbit

US Air Force selects Raytheon's high-bandwidth satellite terminal for secure, protected communications

Military Communication Improved as 6th Boeing-built Wideband Satellite Enters Service

Radio Gateway Connects US and Allied Troops to a Common Mobile Network

POLITICAL ECONOMY
Russian Rocket Puts Telecoms Satellite Into Orbit

Antares Launch Scheduled For Jan 7

The Athena-Fidus satellite is readied for Arianespace first heavy-lift mission of 2014

Boeing, Energia Achieve Mixed Results in Counterclaims

POLITICAL ECONOMY
China to upgrade homegrown GPS to improve accuracy

Beidou to cover world by 2020 with 30 satellites

Obama bans construction of GLONASS stations in US without Pentagon's approval

US bans Russia's GLONASS for spying fears

POLITICAL ECONOMY
India scraps AgustaWestland chopper deal over bribe allegations

Cathay Pacific orders 4 more long-haul Boeing planes

China's Zhejiang Loong Airlines confirms order of 20 A320s

Northrop Grumman Expands Support For Japan E-2C Hawkeye Program

POLITICAL ECONOMY
Theorists Predict New State of Quantum Matter May Have Big Impact on Electronics

Low-power tunneling transistor for high-performance devices at low voltage

Sharpening the focus in quantum photolithography

The analogue of a tsunami for telecommunication

POLITICAL ECONOMY
More BARREL Balloons Take to the Skies

China's HD observation satellite opens its eyes

UAE to launch indigenous satellite in 2017

SAR images acquired by KOMPSAT-5

POLITICAL ECONOMY
Cardinal, bishops plea for aid in Italy 'Triangle of Death'

Scientists uncover hidden river of rubbish threatening to devastate wildlife

Morocco begins emptying beached oil tanker

One dead, seven injured by contaminated China parcels




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement