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HP to cut workforce after profit warning

HP to cut workforce after profit warning

Hewlett-Packard said it plans to lay off up to 2 per cent of its workers by the end of April, following a warning this month in which HP said profits for its current fiscal quarter will be below expectations. As many as 1770 of HP's 88,500 employees could lose their jobs, company officials said.

The layoffs will primarily affect marketing staff and are a continuation of a restructuring under which HP has cut the number of its product divisions from 83 to 16.


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