More job cuts in the works at HP?

Hewlett-Packard CEO Meg Whitman is in the final stages of eliminating 29,000 jobs to trim expenses. But she may have to cut its workforce even more, some industry experts predict.

In a recent note to their clients, Deutsche Bank analysts worried that HP may have not choice, because sales of its personal computers, printers and some other business operations are lackluster.

When the Palo Alto technology giant provides a detailed report on its operations during its annual meeting with Wall Street analysts on Oct. 9, it “could contain some harsh medicine,” they said.

“Due to the ongoing pressures across most of HP’s businesses,” they warned,  “we’d expect HP to announce further cost cutting actions at its analyst meeting.”

Noting that HP probably has saved well over $2  billion from the job cuts it’s already making, the analysts added, “we wouldn’t be surprised if HP were to announce another $1  billion” worth of cuts.

Hewlett-Packard spokesman Michael Thacker declined comment on the report.

Photo by LiPo Ching/Mercury News


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  • Tony Wasserman

    The body count at HP is already over 100K as each CEO since Her Worship (La Fiorina) has fired thousands. That makes it a bit tricky to recruit or retain talented people under 40 who can more easily find employment elsewhere. Maybe HP should go with that and focus on selling to the boomer market.

  • RobinMcM

    Looks as if Meg is going to save HP right into the ground.