Hewlett-Packard Prepares To Announce Layoffs
BOSTON (CBS) - As Facebook raises billions in investment, an old line technology company is getting ready to announce a major layoff.
Hewlett-Packard is preparing to announce up to 30,000 layoffs to offset dwindling demand for its products.
WBZ NewsRadio 1030's Anthony Silva reports
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Senior Managing Director Brian Marshall at International Strategy and Investment Group says HP is top heavy. He says the company has 350,000 employees working in almost 200 countries. Marshall says the cuts will be across the board.
He says HP could take a page from Cisco Systems, which used a combination of a reduction in workforce and a divestiture of one of their manufacturing plants to reduce head count by 15%.
