Hewlett-Packard to cut 5,000 more jobs

Tue Dec 31, 2013 10:52pm IST

A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto, California January 16, 2013. REUTERS/Stephen Lam

A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto, California January 16, 2013.

Credit: Reuters/Stephen Lam

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REUTERS - Hewlett-Packard Co (HPQ.N) said it would cut 5,000 more jobs, bringing the total number of layoffs to 34,000, or 11 percent of its workforce.

The company said in a regulatory filing on Monday that it would record a charge of $4.1 billion in 2014, up from its prior estimate of $3.6 billion. (r.reuters.com/kyf75v)

HP is striving to get back to growth through job cuts and focusing on businesses with longer-term potential such as enterprise services.

HP had estimated that it would cut about 29,000 jobs through fiscal year 2014.

The company had about 317,500 employees as of October 31.

Shares of the company were little changed at $27.92 on the New York Stock Exchange on Tuesday. The stock has gained 96 percent so far this year.

(Reporting by Soham Chatterjee; Editing by Don Sebastian)

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