Palo Alto, California: Hewlett-Packard (HP) is planning to fire 27,000 employees after its personal computer’s sales have fallen in the wake of growing popularity of smartphones, the iPad and other mobile devices.
With the help of such austerity measures, it is expected that HP would save as much as $3.5 billion yearly.
In 73 years of HP’s history, the decision would be the largest cut. HP has almost 350,000 workers and the reductions will affect about 8 percent of them.
HP hopes to avoid as many layoffs by offering early retirement packages, AP reported.
News of the cutbacks overshadowed the release of HP’s latest quarterly results. HP revenue and earnings were better than as projected by some experts.
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