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HP Decided To Layoff Another 25,000 – 30,000 People

worker photoHewlett Packard CEO Meg Whitman announced on Tuesday the company is getting ready to lay off another 30,000 people.

Since the Silicon Valley is treading a new path, which includes cost-cutting variables.

It was announced that layoff is likely to occur mainly within the technology divisions that are focused on software, consulting and data analysis.

It is scheduled to be completed by the end of next month, which means 25,000 to 30,000 jobs are at stake.

HP’s goal is to reduce its expenses by $2 billion a year, and the 55,000 jobs that were already cut are just not enough to meet their quota.

“Our current workforce rebalancing will eliminate the need for further corporate restructuring,” General manager of enterprise services Mike Nefkens said.

Despite the major disruption in the company, HP is still one of the world’s largest tech companies. With all their adjustments, they are expecting to bring in more than $50 billion in yearly earnings.

“With any great company, you can’t cut your way to greatness,” Chief Financial Officer Cathie Lesjak said.

Photo by donjd2

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