HP spends $236 million on severance payments

0

9 June 2005 – San Francisco (CA): Hewlett-Packard spent $236 million on employee severance payments and workforce rebalancing programmes between November and April.

HP reported restructuring charges of $177 million in Q1 and $59 million in Q2.

The company has said that the charges will allow it to reduce its global workforce by around 3,000 employees.