HP Affirms Higher-End Layoffs Figure

Hewlett-Packard Co. confirmed it has increased by 5,000 the number of layoffs it plans to implement under the restructuring plan it adopted in May 2012, bringing the expected number of job cuts to 34,000.

When the company first announced the plan, it targeted the number of job eliminations at 27,000 by October 2014 and later raised the figure to 29,000. But HP had suggested at its analyst meeting in October and again during its quarterly earnings call in late November that the cuts would affect 33,000 to 34,000 people.

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