EMCC European Monitoring Centre on Change

HP

Company/Organisation:
HP

Geographic Location

Country: Austria

Company

Sector: Information / communication
IT and other information services
62.09 - Other information technology and computer service activities
Number Employed: 850
Group: HP

Employment Effects

Announcement Date: 01-10-2012
Planned Job Reductions min: 104
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-10-2012
Foreseen End Date: 31-12-2013

Additional Information

The IT and technology company HP is to lay off 104 out of its currently 850 employees by the end of 2013. This is part of a larger restructuring programme by the HP group, which is to reduce its workforce by 29,000 out of 340,000 employees world-wide by the end of October 2014.

The group thus hopes to save EUR 3.5 billion in personnel costs annually from 2014 onwards. The job reduction will be a mixture of natural attrition and direct dismissals. Redundancy plans were created for the affected employees. A large part of the saved costs will be used to strengthen the company's innovation potential.