HP lays off 22,700 jobs till Jul as part of restructuring plan
10 Sep 2013 12:00 AM GMT
Computer maker Hewlett-Packard (HP) has laid off about 22,700 jobs as of July as part of its multi-year restructuring programme to cut costs.
The US-based firm intends to eliminate a total of 29,000 positions in connection with its plan that will extend till 2014 fiscal, which it expects will cost about USD 3.6 billion in severance and other charges.
HP follows November-October as fiscal year.
‘As of July 31, 2013, HP had eliminated approximately 22,700 positions as part of the 2012 Plan. The cash payments associated with the 2012 Plan are expected to be paid out through fiscal 2017.
‘HP recorded a charge of approximately USD 813 million for the nine months ended July 31, 2013 relating to the 2012 Plan, of which USD 103 million related to data centre and real estate consolidations,’ HP said in a filing to the US Securities and Exchange Commission (SEC).
The US-based firm intends to eliminate a total of 29,000 positions in connection with its plan that will extend till 2014 fiscal, which it expects will cost about USD 3.6 billion in severance and other charges.
HP follows November-October as fiscal year.
‘As of July 31, 2013, HP had eliminated approximately 22,700 positions as part of the 2012 Plan. The cash payments associated with the 2012 Plan are expected to be paid out through fiscal 2017.
‘HP recorded a charge of approximately USD 813 million for the nine months ended July 31, 2013 relating to the 2012 Plan, of which USD 103 million related to data centre and real estate consolidations,’ HP said in a filing to the US Securities and Exchange Commission (SEC).
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