PALO ALTO, Calif. – Hewlett-Packard said it’s laying off 27,000 workers, around eight per cent of its work force as it restructures the business.
The company said it will save $3 billion (U.S) to $3.5 billion annually from cost cuts, including the layoffs.
Hewlett-Packard Co. expects to complete the job cuts by the end of fiscal 2014.
Shares are up $1.40, or 6.6 per cent, to $22.48 in aftermarket trading Wednesday.
Hewlett-Packard
Hewlett-Packard says it’s cutting 27,000 jobs
The Associated Press
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