NPR logo

HP to Lay off 14,500 to Cut Costs

  • Download
  • <iframe src="https://www.npr.org/player/embed/4761269/4761270" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
HP to Lay off 14,500 to Cut Costs

Business

HP to Lay off 14,500 to Cut Costs

HP to Lay off 14,500 to Cut Costs

  • Download
  • <iframe src="https://www.npr.org/player/embed/4761269/4761270" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Computer and printer maker Hewlett Packard is trimming 14,500 jobs in a cost-cutting move. The cuts represent about 10 percent of the global workforce for HP, which merged with Compaq several years ago.

Figures released by the company estimate a cost reduction of $1.9 billion annually. As the Silicon Valley company strives to compete with technology rivals such as Dell and IBM, it also announced an overhaul of its retirement program.

We no longer support commenting on NPR.org stories, but you can find us every day on Facebook, Twitter, email, and many other platforms. Learn more or contact us.