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H-P to Slash Work Force By Up to 30,000

Wall Street Journal (05/17/12) Ben Worthen

Hewlett-Packard Co. reportedly plans to eliminate 25,000 to 30,000 employees, as chief executive Meg Whitman plans a companywide restructuring. Cuts in that range would constitute about 8% of the company’s work force, which stood at approximately 349,600 at the end of October. People familiar with the matter say that the cuts will be across the company and that the exact number is not yet final. The cuts rank among the largest by large U.S. companies since the financial crisis triggered a recession in the fall of 2008, according to the outplacement firm Challenger Gray & Christmas.