Renee Montagne has business news.
RENEE MONTAGNE, HOST:
NPR's business news starts with more layoffs ay HP.
(SOUNDBITE OF MUSIC)
MONTAGNE: Hewlett-Packard said yesterday it's cutting ay least 11,000 jobs as part of a restructuring effort that has already eliminated more than three times that number.
The news came as HP announced a drop in revenue in the second quarter of its fiscal year, disappointing investors as the company had appeared to be stabilizing recently.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.