IT firm Hewlett Packard to shed up to 30000 jobs in restructuring

It was unclear at this stage whether any of its staff, numbering around 15,000 in the United Kingdom and Ireland, would be affected. Its sales fell to $111.5 billion in its fiscal 2014 from $ 127.2 billion in fiscal 2011. Along with the layoffs, this cost consists of $700 million in value reductions from issues reminiscent of website reductions and different cuts as the corporate splits in two.

This means that since CEO Meg Whitman took control of the company more than 88,000 people have collected their layoff notices. The 76-year-old company is also trying to focus on higher-margin services such as data analytics, security and application modernisation. Revenue for the combined entity, however, is expected to drop 1.6% to $102.4 billion. Since Whitman took over HP in 2011, there have been several rounds of layoffs at the Palo Alto, California-based company, including 39,000 announced in 2013 and 16,000 previous year.

HP has been undergoing a massive reorganization to cope with the move away from traditional personal computers to mobile devices.

“It will serve for some as a reminder of her tenure at HP, but I think the questions to Fiorina will go well beyond the 30,000 she laid off”, said Larry Gerston, a San Jose State political science professor emeritus.

HP’s split becomes official on November. 1.

Hewlett-Packard executives suggested that they’ve made enough changes to enterprise services to stem the bleeding.

The split is hoped to enable the management of each to better focus on their respective markets.

Despite everything, the HP of today is one of the world’s largest technology companies.

HPE will have revenue of more than $50 billion, and is expected to report adjusted profit of $1.85 to $1.95 per share in 2016, HP said on Tuesday.

Whitman is scheduled to become president and CEO of Hewlett Packard Enterprise while serving as board chairman of HP Inc.

The big job cuts will come from HP Enterprise, in particular jobs at call centers and other service centers in developed countries. Revenue, also, is down about 10 percent since 2010.

In a bid to right size its workforce and fix the constant downslide in its market share, HP is issuing pink slips to about 30,000 employees from HP Enterprise. HP Inc expects to return 50-75 percent of annual free cash flow to shareholders through a combination of a “robust” dividend and regular share buybacks.

That business said it would shed 3,300 jobs over the next three years.