Mass Layoffs at HP of 35,000

Hewlett-Packard Co. is expected to announce deep cuts in its workforce Wednesday afternoon when the world's largest personal computer and printer maker is scheduled to release its latest quarterly results.

The payroll purge could lay off 25,000 to 35,000 workers, based on recent media reports that quoted unnamed people familiar with HP's plans. HP has declined to comment, but CEO Meg Whitman has made it clear that she believes the company needs to trim its expenses to offset declining revenue and free up more money to pour into research and development.

The looming layoffs could be the largest in HP's 73-year history, surpassing 24,600 jobs cuts announced in 2008 after the company bought consulting service EDS for $13.9 billion. HP currently employs nearly 350,000 people. If the recent reports pan out, that means HP is looking to jettison about 7 percent to 10 percent of its workforce. More...