HP To Shed another 5,000 Jobs

According to CNET, Hewlett-Packard expects to cut an additional 5,000 jobs on top of the 29,000 it previously planned to eliminate.

In a filing with the Securities and Exchange Commission, HP attributed this new move to continued market and business pressures. The company said “HP expects to eliminate an additional 15% of those 29,000 positions, or a total of approximately 34,000 positions, and to record an additional 15% of that $3.6 billion in total costs, or approximately $4.1 billion in aggregate charges.”

The job cut is expected to be completed by October 2014. HP CEO Meg Whitman promised that the company will have another big layoff once this one is complete.

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