HP to fire 25,000 employees by 2011

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Bangalore, Sep 17: It is now HPs turn to layoff its employees. Computer maker Hewlett-Packard said it will lay off 25,000 employees, or 7.5 pc of its workforce, by 2011 in a plan to integrate tech outsourcer Electronic Data Systems (EDS), which HP bought in August. HP said reduction in attrition rate will result in annual cost savings of about $1.8 billion. Of the nearly 25,000 layoffs, HP said about half will come from workers in the United States.

"HP has a strong track record of making acquisitions and integrating them to capture leading market positions," said Mark Hurd, HP's chief executive, in a statement. "We will deliver on the promise of HP and EDS for our customers and shareholders, " he added.

A company spokesman said HP was cutting positions that were made redundant due to the acquisition of EDS, but the company expects to hire about 12,000 new employees over the next three years to fill new expansion needs.

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