TV News LIES

Wednesday, Aug 20th

Last update09:11:45 PM GMT

You are here News Economy Hewlett-Packard to cut up to 16,000 more jobs

Hewlett-Packard to cut up to 16,000 more jobs

E-mail Print PDF

Hwlett PackardTechnology giant Hewlett-Packard (HP) announced an 18% rise in profits to $1.3bn for the second quarter in statement that was accidently released before US stock markets closed.

But the firm said that despite rising profits, it plans to lay off an additional 11,000 to 16,000 workers.

HP had previously announced it would cut 34,000 jobs as part of a restructuring announced in 2012.

Shares in HP fell after the early release of the news.

"I'm pleased to report that HP's turnaround remains on track," said chief executive Meg Whitman in a statement.

"We're gradually shaping HP into a more nimble, lower-cost, more customer- and partner-centric company."

However, analysts were disappointed by the firm's revenue growth, which fell 1% from the same period a year ago to $27.3bn.

More...


Most Recent Related Stories...


Labor sharks sink teeth into low-wage immigrant workers

Wage theftWhen Ophelia Hernández, a 53-year-old clothing store owner from El Salvador, got working papers to come...

Report: 18 firms hold a third of US wealth

major corporations in USIncome inequality is a hot political topic and a report showing that a small number of...

Cisco to cut another 6,000 jobs as forecast falls flat

Cisco layoffsCisco Systems Inc (CSCO.O) forecast tepid current-quarter results and said it plans to cut another 6,000...

The 1% May Be Richer Than You Think, Research Shows

super richThe 1 percent is literally rich beyond measure, depriving nations of billions in tax revenue and...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!