HP to slash up to 30000 more jobs as it splits in two - As part of its efforts to reduce its expenses, Hewlett-Packard (HPQ) is preparing to slash another 30,000 jobs. The spinoff will be completed by the end of next month, cutting 25,000 to 30,000 jobs within HP Enterprise.
The damage caused by acquisitions that haven't worked out and a technological shift from PCs to mobile devices has forced the company to expand upon austerity measures.
Despite the turmoil, HP remains one of the world's biggest technology companies. HP Enterprise is likely to have more than $50 billion in annual revenue.
Meg Whitman, current chairman and chief executive of HP is pushing the trimming of HP as a way to breathe new life into two companies that will be better suitable to innovate in their own product areas and take care of their customers.
HP Enterprise targets primarily businesses and government agencies, while the PC and printing divisions are dependent on the consumer market for a significant chunk of their revenue.
In a Tuesday statement, Whitman promised, "Hewlett Packard Enterprise will be smaller and more focused than HP is today."