Hewlett-Packard to lay off 16% of employees as part of restructuring
The American company Hewlett-Packard announced its intention to give up 7,000-9000 jobs. With the current state, that would be about 16 percent. The decision to reduce staff was made in accordance with the company's restructuring plan. The layoff of such a number of employees is expected to reduce the company's annual costs by $1 billion. Hewlett-Packard also said earnings per share would range from $1.98 to $2.1 billion in the next fiscal year. This is worse than analysts' forecast. They expect a profit of $2.18. The company plans to launch another program to buy back shares. It could be worth $5 billion. Dividend payments will be increased by 10%. Hewlett-Packard currently has a market capitalization of approximately $27 billion, 500 million dollars. This year it has decreased by 10%. On the announcement of the impending reduction in the staff of paper manufacturer of computers and printers fell in price by almost 6%.