HP to cut 27,000 jobs

The world’s biggest personal computer maker plans to cut 27,000 jobs, or 8% of its global workforce, by next year in a major restructuring effort. Hewlett-Packard, which is struggling amid a move to mobile devices and tablet computers, said the move is expected to generate annualized savings of US$3.0-3.5 billion by the end of the 2014 fiscal year. The workforce cuts will include an early retirement package for employees. HP intends to re-invest the savings into the company’s other segments such as cloud computing, big data and security.

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