Tuesday, June 1, 2010
HP Cuts 9000 In Restructuring
HP said today that the firm is cutting 9000 jobs as part of a restructuring of the company. The firm said the cuts are part of a restructuring to create a "next generation" Enterprise Services businesses, and will save the firm approximately $1 billion in annualized gross savings. The company did not detail the extent and distribution of the cuts, however, the firm cited the firm's completion of integration of EDS and scaling the firm's business in the move. EDS acquired Plano-based EDS back in May of 2008, paying around $13.9 billion for the firm. It's unclear how former EDS employees and HP's Texas operations will be affected by the cuts and restructuring--EDS is a major component of HP's enterprise services arm.