HP Raises Job Cut Estimate to 29,000
Hewlett-Packard says it will cut 29,000 jobs between now and early 2014. That’s higher than the initial estimate of 27,000 the company predicted over the summer. The new estimate was disclosed in HP’s 10-Q filing with the U.S. Securities and Exchange Commission this morning. The new estimate comes on the heels of the disclosure last month that HP’s restructuring charge related to job reductions would be closer to $1.5 billion, up from $1 billion. CEO Meg Whitman attributed the change in part to a higher number of voluntary buyouts than had been anticipated.