HP to cut 14,500 jobs

19 July 2005 – Palo Alto (CA): Hewlett-Packard (HP) plans to cut 10 per cent of its workforce over the next six quarters as part of a restructuring plan to save the company $1.9 billion a year.

The company is expected to cut 14,500 jobs in IT, human resources and finance. Voluntary retirement will be offered to long serving staff members in the US.