EMCC European Monitoring Centre on Change

Hewlett-Packard

Company/Organisation:
Hewlett-Packard

Geographic Location

Country: European Union
Location of affected unit(s): Germany and other European countries

Company

Sector: Information / communication
IT and other information services
62 - Computer programming, consultancy and related activities
Number Employed: 349600

Employment Effects

Announcement Date: 23-06-2012
Planned Job Reductions min: 8000
Planned Job Reductions max: 8000
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2014

Additional Information

Hewlett-Packard, an American multinational hardware and software corporation, is planning to cut up to 8,000 positions across Europe, 1,000 of them in Germany.

In May, the company announced its plan to lay off 27,000 workers worldwide, about 8 per cent of its current workforce of more than 300,000 workers.

HP says that these job reductions would be made mainly through early retirement. The company claims to use cost savings from planned job cuts to drive organic growth.