Jobs slash to cost HP $200m

23 November 2004 – Palo Alto (CA): In a filing to the US Securities and Exchange Commission, Hewlett-Packard (HP) has announced plans to cut jobs in the first half of 2005 that it expects will cost the company $200 million in expenses.

Although it gave no details of how many jobs would be cut, the tech giant disclosed the workforce reduction would be made across all HP businesses.

"As part of their ongoing cost structure management, HP’s various businesses routinely review the size of their workforce and make adjustments they deem appropriate after evaluating a variety of factors," said the company in the filing.