World Economy

HP to Cut 30,000 Jobs

HP to Cut 30,000 JobsHP to Cut 30,000 Jobs

Hewlett-Packard has said it will cut as many as 30,000 jobs as part of a corporate split, DW reported. One branch of the business will focus on software, networking and storage, while the other concentrates on computers and printers. The cost-cutting measures were to occur within the company’s newly formed Hewlett Packard Enterprise unit, according to the announcement on Tuesday. The unit is aiming to reduce annual costs by $2 billion, while also making $700 million in savings related to the spinoff. Between 25,000 and 30,000 job losses are expected.