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HP will cull 5,000 more staff in 2014

Takes total jobs axed to 34,000
Thu Jan 02 2014, 11:56
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PC MAKER HP hasn't made a strong start in 2014, having announced plans to lay off 5,000 more staff this year.

HP revealed the bad news in a filing with the US Securities and Exchange Commission (SEC), saying that it expects to cut an additional 5,000 jobs on top of the 29,000 it had previously announced plans to axe.

HP said that these job cuts will lead to costs of $4.1bn as part of the restructuring, and added that to date 24,600 people have already been let go from the company in staffing reductions.

"Due to continued market and business pressures, as of October 31, 2013, HP expects to eliminate an additional 15 [percent] of those 29,000 positions, or a total of approximately 34,000 positions, and to record an additional 15 [percent] of that $3.6 billion in total costs, or approximately $4.1 billion in aggregate charges," the company said in its annual report.

"HP expects to record these charges through the end of HP's 2014 fiscal year as the accounting recognition."

This news comes just a month after HP revealed that it planned to slash over 1,100 jobs in the UK. The job cuts, which haven't gone down too well with the Unite union, will see 1,124 staff left jobless across the UK, including the company's three sites in Bracknell, Sheffield and Warrington.

Unite national officer Ian Tonks said at the time, "For the last five years HP has been addicted to a culture of job cuts in the UK to such an extent that its highly skilled workforce has little faith in the way the company is being managed and will be going forward.

"Unite will be doing everything possible to mitigate these job losses which are a hammer blow to the UK's IT sector and very distressing for employees in the run-up to Christmas." µ


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