H-P Mulls Cutting Workforce 8-10%: Reuters

Hewlett-Packard Co is considering cutting its workforce by 8 to 10 percent, or a minimum of 25,000 jobs, sources familiar with the matter told Reuters, as newly installed CEO Meg Whitman strives to return the storied Silicon Valley institution to growth.

The job cuts, which could include retirements, are under discussion but have not yet been finalized, several people familiar with the situation told Reuters. Th e sources did not elaborate on a time frame or other details.

HP, which employs more than 300,000 people across the globe, could announce the layoffs as soon as next week when it unveils quarterly results, said the sources, who asked to remain anonymous because the plan has not been made public.

Analysts have been expecting job cuts in the wake of Whitman's plan to merge the company's personal computer and printer divisions.

Shares of HP, the leading PC maker, were up 5 cents at $22.08 in afternoon trade.