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June 1, 2010    

Hewlett-Packard announces thousands of job losses

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by Kay Murchie

The world’s largest technology company by sales, Hewlett-Packard (HP), has today announced it is to reduce headcount by 9,000.

The Palo Alto, California-based company said the job losses will be the result of productivity gains and automation, in order to provide “next-generation services” which will benefit clients.

It said: “As a result of productivity gains and automation, HP expects to eliminate roughly 9,000 positions over a multi-year period to reinvest for further growth and to increase shareholder value.”

However, HP said it plans to add 6,000 new positions over a three-year period as a result of the investment in more advanced data centres.

Meanwhile, at the end of last year, HP said it would purchase networking software and equipment maker, 3Com Corp, in a deal worth $2.7 billion.

The deal will see HP compete across the board with networking leader Cisco Systems Inc. and help the company enhance its presence in the rapidly growing Chinese market.

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