Hewlett-Packard plans massive job cuts, 25'000 may go

Bloomsberg news reported that “people briefed on the plans” expected about 10,000 to 15,000 of the total cuts to come from HP’s services group, which sells information technology. The New York Times reported that China would probably be spared from cuts, as would the Research and Development area of the company. The Times said the cuts would likely be announced next week, according to Senior Executives at the company. Several thousand people will be offered early-retirement packages according to the sources. HP has a total workforce of 324,000, and the cuts could potentially be up to 10 percent of this total some sources said. HP declined to comment.