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Hewlett-Packard Co.
HP to cut 11,000 to 16,000 more jobs
HP to cut 11,000 to 16,000 more jobs

Hewlett-Packard Co. said Thursday that it is cutting 11,000 to 16,000 more jobs, above a target of 34,000 the company outlined in a multiyear restructuring plan in May 2012, and offered an outlook that was below expectations. The Palo Alto company said in a release that the increased cuts come "as HP continues to reengineer the workforce to be more competitive and meet its objectives." HP said it had 317,500 workers at the end of October, when it was partway into its restructuring. Chief Executive Meg Whitman said in a statement that the company's turnaround "remains on track." "We're gradually shaping HP into a more nimble, lower-cost, more...

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