Hewlett-Packard Co or HP is cutting a large number of its manpower once again while the company continues to struggle to keep its enterprise business going despite the falling demand for its products.
According to Independent, HP is seeing a large layoff this year with the number of workers who are bound to be jobless ranging from 25,000 to 30,000.
The company, which is splitting into two in late 2015, has announced this layoff on top of the previously announced job cuts for 55,000 employees working under CEO Meg Whitman.
The newly announced job cuts are said to affect at least 10 percent of the total workforce of HP.
The Palo Alto-based information technology company is said to have over 300,000 current employees, Reuters has learned.
The company also revealed that the job cuts would take affect globally, but it has yet to spill the specific branches that would be affected by this news.
Through this massive layoffs, HP us hoping to save approximately $2.7 billion annually. And this is not at all surprising since analysts claim that companies nowadays turn to job cuts to revive their fortunes in the face of failed acquisitions.
"We've done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring," Whitman was quoted as saying in a released statement.
The job losses will come amid HP's plan to split into two listed companies: Hewlett Packard Enterprise and HP Inc, which will comprise the computer and printer businesses of the company.
The bold move to lay off as many as 30,000 employees also comes amid the decline in personal computer sales of the company. HP even lost its position as a leading PC supplier to Lenovo in 2012, as reported by the BBC.
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