Hewlett-Packard up on job cuts

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Shares of Hewlett-Packard (HPQ) are up 3% Wednesday after late yesterday announcing it plans to slash between 25,000 and 30,000 jobs.
The job cuts are part of a financial move to separate the business into two more focused firms: One concentrating on computers and printers and the other on software and services for business.
The cuts account for about 8% of the company’s total workforce at the end of the most recent fiscal year.
Shares are up 83 cents, or 3%, to $27.94. HP is still a massive employer. Even after the job cuts, it’s still the third largest employer in the technology sector.
Follow Matt Krantz on Twitter @mattkrantz
It was reported that Hewlett-Packard Co. said it will cut 25,000 to 30,000 more jobs as part of a $2.7 billion restructuring September 15, 2015. Photo by Justin Sullivan/Getty Images
It was reported that Hewlett-Packard Co. said it will cut 25,000 to 30,000 more jobs as part of a $2.7 billion restructuring September 15, 2015. Photo by Justin Sullivan/Getty Images
Read More: http://americasmarkets.usatoday.com/2015/09/16/hewlett-packard-up-on-job-cuts/

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