HP plans another 1,800 job cuts
Another 1,800 employees will be cut from the ranks at Hewlett-Packard by the end of its 2003 financial year, according to the company's recent filing with the US Securities and Exchange Commission (SEC).
HP said it planned to cut a total of 16,800 positions by October of next year - 8,200 from former HP divisions and 8,600 from Compaq units.
Immediately after the company closed its acquisition of Compaq Computer in May, Chairman and Chief Executive Officer Carly Fiorina said the company would cut a total of 15,000 positions by the end of its 2003 financial year, with the majority of the cuts coming this November.
While announcing its third-quarter earnings results in August, HP said it had cut 4,740 positions, and was on track to complete the 10,000 cuts by the end of its current fiscal year.
An HP representative could not be immediately reached for comment.
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