HP to eliminate 5,000 more jobs

Networking vendor HP will slash 5,000 more jobs.

This is in addition to the 29,000 it had originally planned, said HP in a Securities and Exchange Commission (SEC) filing.

The decision to eliminate 5,000 more jobs is due to business pressures.

HP expects to complete the job cuts by October 2014. The company has 331,800 employees globally. HP does not share country specific job details.

HP

Cisco, one of the main rivals of HP, earlier announced job cuts.

In May 2012, HP announced its plans to cut 27,000 jobs and, in September 2012 it increased the figure to 29,000.

“Due to continued market and business pressures, as of October 31, 2013, HP expects to eliminate an additional 15 percent of those 29,000 positions, or a total of approximately 34,000 positions, and to record an additional 15 percent of that $3.6 billion in total costs, or approximately $4.1 billion in aggregate charges,” HP said in its annual report.

[email protected]