HP Swings the Axe: 14,500 Jobs to Go

That equates to about 10% of the regular full-time staff, according to a company statement. Hewlett-Packard also forecast restructuring charges of $1.1 billion over the next six quarters. The Bloomberg spin is that the company’s costs are too high and so HP has to bring them in line with competitors.

(Neither mundane nor pointless for the Hewlett-Packard employees who face the axe, of course, but didn’t know where else to post.)