- Associated Press - Wednesday, May 23, 2012

PALO ALTO, CALIF. (AP) - Hewlett-Packard says it’s laying off 27,000 workers, 8 percent of its work force, as it restructures the business.

The Palo Alto, Calif., company says it’ll save $3 billion to $3.5 billion annually from cost cuts, including the layoffs.

Hewlett-Packard Co. expects to complete the job cuts by the end of fiscal 2014.

Shares are up $1.40, or 6.6 percent, to $22.48 in aftermarket trading Wednesday.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide