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US: Growth is straight ahead
  • Hewlett-Packard Co. (HPQ), the world’s largest personal-computer maker, expanded the total job cuts under its reorganization plan announced in May to 29,000, more than it had originally disclosed.

    The cuts, exceeding the 27,000 estimated earlier, will take place through fiscal year 2014, Hewlett-Packard said today in a regulatory filing. The company said it will book reorganization expenses of about $3.7 billion during the period.

    Hewlett-Packard is grappling with slower demand for printers, services and data-center equipment. The company said in May that it will fire workers and make early retirement offers to generate annual savings of as much as $3.5 billion starting in 2014. Many cuts will take place in the ailing enterprise services group, which manages data centers and provides information-technology consulting.