September 15, 2015

HP Will Cut As Many As 30,000 More Jobs After Split

Hewlett-Packard will shed as many as 30,000 more jobs as it splits into two companies, the company said at a meeting with analysts in San Jose. Calif.

Tim Stonsifer, the incoming CFO of Hewlett-Packard Enterprise, the company devoted to corporate computing that will emerge from the split on Nov. 1, announced the reductions as part of his presentation on guidance. The restructuring will include a $2.7 billion charge. HP shares fell by 36 cents, or more than 1.3 percent, to $26.75 in after-hours trading after the news was announced.

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