HP has posted its second quarter earnings and announced it will lay off 27,000 workers worldwide in an effort to simplify its business and increase efficiency. HP beat Wall Street expectations with its earnings but still faces questions about how it will compete in a changing tech industry. The company’s reported $30.7 billion in sales for the quarter, down 3 percent from the period a year ago. HP brought in $1.6 billion in profit, down 31 percent. In addition to the earnings report, HP confirmed rumors about its plan to lay off about 27,000 workers.
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HP Touts R&D as Silver Lining to Massive Layoffs
Posted by: Rachelle Dragani May 24, 2012 10:54 AMHP has posted its second quarter earnings and announced it will lay off 27,000 workers worldwide in an effort to simplify its business and increase efficiency. HP beat Wall Street expectations with its earnings but still faces questions about how it will compete in a changing tech industry. The company’s reported $30.7 billion in sales for the quarter, down 3 percent from the period a year ago. HP brought in $1.6 billion in profit, down 31 percent. In addition to the earnings report, HP confirmed rumors about its plan to lay off about 27,000 workers.