HP has made plans to tighten its belt by culling an additional two per cent of its workforce, but has refused to disclose local implications.
HP’s results for the second quarter, ending April 30, showed revenues declined across the board. In the Asia-Pacific region, revenue was down 10 per cent to $US4.7 billion. The company’s overall revenue fell three per cent and net earnings dropped 17 per cent to $US1.7 billion.
In a conference call to analysts to discuss its second quarter results, the vendor said it would implement structural changes to its product business.
“These actions will result in the elimination of approximately two per cent of the HP workforce, as we further streamline and simplify our organisation and our supply chains,” HP CFO, Cathie Lesjak, said. “These actions will be implemented over the next 12 months, after consultation with employee representatives, where required.”
ARN contacted HP Australia but the company declined to comment on local financial results or operational numbers.
The news of further cuts follows on from a headcount cull announced in September last year that involved 24,600 employees globally, or about 7.5 per cent of the vendor’s workforce. Shortly thereafter, HP cut 75 staff from its local EDS workforce.