EMCC European Monitoring Centre on Change

Hewlett-Packard

Company/Organisation:
Hewlett-Packard

Geographic Location

Country: World

Company

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

Employment Effects

Announcement Date: 10-09-2012
Planned Job Reductions min: 2000
Planned Job Reductions max: 2000
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2014

Additional Information

Hewlett-Packard will cut additional 2,000 jobs worldwide. The company announced a multiyear restructuring plan in May, implying the loss of 27,000 jobs. With the update in September, the total job loss increases to 29,000.

Hewlett-Packard claims that part of the extra job loss will come from an "enhanced early retirement" scheme for its US employees. The current early retirement programme is described as successful, as close to 11,500 people are expected to leave the company by the end of 2012, which is considerably more than the estimated 9,000 people.

Hewlett-Packard goes through a restructuring process, reorganising itself towards more focus on software and services for business.