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HP lays off further 800 staff

Hewlett-Packard made a further 800 staff redundant in its most recent financial quarter, in addition to the 14,500 jobs losses announced in the summer.

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Hewlett-Packard made a further 800 staff redundant in its most recent financial quarter, in addition to the 14,500 jobs losses announced in the summer.

The total redundancy payments slashed net profits in HP’s fourth quarter to $416m (£245m). This compares with a profit of £650m in the same quarter last year.

Sales increased 7% to $22.9bn (£13.5bn). On top of the bad news on net profits, HP has also announced it is recalling almost 150,000 laptop batteries because of a potential fire hazard.


This will come as a blow to the company as laptop sales have helped HP to slightly outstrip the PC sales growth of main rival Dell.

Dell also recently reported a big dip in quarterly profits, as a result of a faulty PC component and a small number of layoffs.

The financial cost of the HP layoffs is expected to show up in next year’s first-quarter results.


 

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