HP to cut workforce by 8%

Washington Post : Hewlett-Packard has announced it will be cutting 27 000 jobs over the next two years. The reduction, which will affect some 8% of HP’s nearly 350 000 employees, is expected to save the company $3 billion to $3.5 billion annually. Eight months ago, HP hired Meg Whitman as CEO to turn the company around. In addition to the employee downsizing, Whitman plans to boost customer service and research and development. Founded in 1939 in Palo Alto, California, HP has been struggling in recent years to sell its personal computers and printers now that smartphones and tablets are starting to dominate the market.