HP restructure and job cuts

HP is expecting to announce a huge restructuring that could mean between 5,000 - 25,000 redundancies, reports the Wall Street Journal. HP's new Chief Executive Officer Mark Hurd, who was appointed in late March, plans to make significant cost cuts at the technology company which he said "has a cost structure that is off benchmark in many areas". The restructure is likely to be announced at the end of the fiscal third quarter on July 29. The layoffs could bring around $100 million in headcount-related savings in the period.

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