By Income Hunter:
It seems that now is not a good time to be an employee of Hewlett- Packard (HPQ), as the company may soon announce plans to cut 30,000 jobs across the company. In total, the company may cut as much as 10% (with some reports giving a lower estimate of about 8%) of its staff worldwide through layoffs and voluntary retirements by its employees.
Employees working in China, the biggest growth area for the company, as well as those working in research and development, may all be spared during this huge cut. The impact this will have on employees is obviously one that could be potentially devastating, but what about the effects on the company itself?
If this is a ploy to offset costs, then it will most likely be effective and the company may be able to recoup some of its losses with these savings. The company’s CEO Meg Whitman