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People Daily (Free subscription) | 17/09/2008
HP plans to cut 7.5 percent of its work force, or 24,600 jobs, seeking to realize savings from its recent acquisition of Electronic Data Systems Corp, the company said on Monday. HP said it would carry out the cutbacks over the next three years, while replacing about half the jobs in new areas of its services business. It announced the plan ahead of a meeting with Wall Street analysts to detail the...
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Ecademy: user blogs (Free subscription) | 16/09/2008
When Hewlett-Packard Co. announced five months ago it was acquiring technology-services firm Electronic Data Systems Corp., Wall Street expected big layoffs from the combined company. But the size of the job cuts — 24,600 jobs over the next three years, nearly 8 percent of HP's 320,000-employee work force — came as a shock when HP laid out its plans Monday for integrating EDS. The cuts represent HP's...
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BoomTown - All Things Digital (Free subscription) | 16/09/2008
Of course, the layoffs at Hewlett-Packard were expected, part its cost-cutting integration after the $13.25 billion acquisition of Electronic Data Systems Corp. HP said yesterday that the 24,600 jobs the tech giant axed, or 7.5 percent of the total work force, were made to "streamline the combined company's services" businesses. But BoomTown has to wonder if other big tech and Internet companies might...
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From On High (Free subscription) | 16/09/2008
It's the healthy thing to do, but ... wow: HP surprises Wall Street with size of EDS job cuts By Jordan Robertson, The Associated Press San Francisco -- When Hewlett-Packard Co. announced five months ago it was acquiring technology-services firm Electronic Data Systems Corp., Wall Street expected big layoffs from the combined company. But the size of the job cuts _ 24,600 jobs over the next three years,...