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Electronics Production | May 20, 2009

HP to lay off more than 6000 staff

Hewlett-Packard plans to lay off more than 6000 of its worldwide staff. This number has to be added to the - already announced - 24000 layoffs.
"In addition, we'll be taking some targeted actions to structurally change and improve the effectiveness of our product businesses. These actions will result in the elimination of approximately 2% of the HP workforce. [...] These actions will be implemented over the next 12 months, after consultation with employee representatives, where required", the company stated in the conference call with analysts discussing their 2Q fiscal report.

The 2Q fiscal reports stated that HP's net revenue declined by 3% to $27.4 billion; compared to the same period the previous year (adjusted for the effects of currency). GAAP operating profit was $2.3 billion. Revenue grew 9% in the Americas to $12.1 billion. Revenue declined 11% in Europe, the Middle East and Africa and 10% in Asia Pacific to $10.6 billion and $4.7 billion, respectively. Revenue from outside of the United States in the second quarter accounted for 64% of total revenue, with revenue in the BRIC countries (Brazil, Russia, India and China) declining 12% over the prior-year period while accounting for 9% of total HP revenue.

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