In its 10K filing with the SEC (US Securities and Exchange Commission), HP revealed that it needs to eliminate an additional 15% of its workforce.
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Due to continued market and business pressures, as of October 31, 2013, HP stated that a further 5,000 jobs would need to go, over and beyond the 29,000 positioned it is planning to cut as part of restructuring effort in 2014.
This latest round of job cuts comes just weeks after the company announced it would be cutting 1100 jobs in the UK as part of its restructuring plan. At the time, Ian Tonks, Unite national officer said: “For the last five years HP has been addicted to a culture of job cuts in the UK to such an extent that its highly skilled workforce has little faith in the way the company is being managed and will be going forward.”
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For HP’s fiscal 2013 results, which ended on 31 October, the company made $112bn revenue compared to $120bn in 2012.
The company has seen a decline in both notebook PC and desktop PC sales. Revenue from notebooks declines 7.8% compared to 2012, while desktop PCs declined by 2.9%. Its consumer business has struggled due to price pressure from budget PC suppliers and the BYOD trend.
Because of BYOD, people no longer stick with a Windows desktop operating system (OS). They are happy to use iOS, Android, Mac OS and Windows, depending on the device they use.