Hewlett-Packard Says It Needs To Chop 5,000 More Jobs

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NEW YORK – Struggling US computergiant Hewlett-Packard plans to slash5,000 more jobs than previouslyannounced because of a difficult businessenvironment, a regulatory filingshows. HP will eliminate 34,000 positionsby the end of its fiscal year nextOctober, up from an earlier estimate of29,000, said a document dated yesterdayand filed with the Securities andExchange Commission.The California-based firm, one of thebiggest makers of personal computers,is in the midst of a multi-year restructuringto cope with the shift away fromPCs to mobile devices.The company said the increased jobcuts were “due to continued market andbusiness pressures.”That will add 15 percent to HP’s onetimecosts for the move, resulting intotal charges of $4.1 billion, HP said inthe document.HP posted a profit of $5.1 billion onrevenue of $112.3 billion in the fiscalyear that ended October 31, comparedto a $12.7 billion loss the prior year onrevenue of $120.4 billion.Under chief executive Meg Whitman,HP has shaken up its executive leadershipteam as part of an effort to regainits footing on a computing landscapebeing transformed by the popularity ofsmartphones and tablets.

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