Tech Company Hewlett Packard Cuts 9,000 Jobs

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Known for computers and printers, HP is also building up business in computer services to compete with IBM. The company says productivity gains and automation will allow it to make the cuts. While its issuing pink slips, the company also plans to add 6,000 jobs worldwide as it adjusts its business model.

STEVE INSKEEP, host:

NPR's business news starts with a giant tech firm getting a bit smaller.

(Soundbite of music)

INSKEEP: Hewlett Packard says it will lay off 9,000 people. According to HP, this is less a sign of the tough economy than it is of a shifting business. HP is known for computers and printers, but it's building up business in computer services, trying to compete with IBM.

HP says productivity gains and automation will allow it to make the cuts of 9,000 people and at the same time the company plans to add 6,000 jobs worldwide as it adjusts its business model.

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