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Multi-year restructuring at HP leads to 27,000 job cuts

In a news release today, Wednesday, May 23, 2012, HP announced a multi-year restructuring plan that would result in the loss of 27,000 jobs. This represents 8% of HP’s workforce and is expected to extend to the end of 2014.

HP focused on the expected annualized savings this restructuring would bring, which totals around $3.0 to $3.5 billion by 2014. HP hopes to take that savings and reinvest it back into the company finding efficiencies and improving customer service.

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