NPR : News

Filed Under:

Reports: Hewlett-Packard Plans To Announce About 25,000 Job Cuts

Several news outlets are reporting that computer giant Hewlett-Packard will announce the elimination of 25,000 to 30,000 jobs. All Things D reports that the announcement will come from CEO Meg Whitman when the company announces its quarterly earnings next Wednesday.

All Things D reports:

"Additionally, sources say, Whitman will, during a conference call with analysts, portray the cuts as necessary — not to bolster HP's earnings and satisfy shareholders, but rather as a means to make needed investments. On this point, Whitman will be borrowing a bit from the playbook of her short-lived predecessor, former HP CEO Léo Apotheker.

"Whitman will argue that many of the cuts made at HP during the five years that Mark Hurd was at its helm were made without corresponding investments in new and growing initiatives. This 'cut and reinvest" theme will apply across the company, sources tell me. The process has been an intense one among HP's senior executive ranks and has, as one source put it, 'consumed the company.'"

All Things D puts the number of jobs to be potentially cut at 30,000 while Bloomberg reports that will cut 8 percent of its workforce or 25,000 jobs. Yesterday, Business Insider reported that the company would make "significant cuts."

All of these news outlets are pinning the news on unnamed company sources.

After the news broke, HP stock's price rallied, climbing by as much as 7 cents.

All Things D says cuts will happen over "a relatively long period of time, perhaps a year or more."

Copyright 2012 National Public Radio. To see more, visit


'Good Girls Revolt' Takes On Gender Bias In The Newsroom

Amazon's new series Good Girls Revolt, set in 1969, was inspired by a landmark gender bias case at Newsweek. Showrunners also hired women at every level of the cast and crew — a Hollywood rarity.

After A Long Day Of Fighting Climate Change, This Grain Is Ready For A Beer

Kernza is a kind of grassy wheat that traps more carbon in the soil than crops like wheat and rice. Now, a West Coast brewery is using the grain in its new beer called Long Root Ale.
WAMU 88.5

Why Millions Of American Men Have Left The Workforce, And How To Bring Them Back

Today’s unemployment rate is down sharply from the height of the Great Recession. But more than a fifth of American men had no paid employment last year, and seven million of them have stopped looking altogether. Why men are leaving the workforce – and how to bring them back.


Tesla Surprise: It's A Profit

The company posted a profit of nearly $22 million for the third quarter, the first quarterly profit since 2013. Tesla attributes the good results in part to new stores.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.