HP said to be planning massive job cuts.
HP is braced for massive job losses next week. Reports say that 8-10% of the workforce, representing 25-30,000 people, could be laid off or offered early retirement.
Meg Whitman, HP CEO, who tried and failed to become the Governor of California, is working with management consultants McKinsey on the head-count reduction.
Whitman has already mooted a plan to merge HP’s computer division with its printer division. HP’s computer sales are being eroded by tablets and HP’s tablet product was a total disaster.
HP has a worldwide workforce of 324,600 people.
Whitman is the third HP CEO in two years. Mark Hurd was fired in 2010 and Leo Apotheker was fired last year.