Hewlett Packard to shed 3,000 jobs

Computer giant Hewlett-Packard is to cut 3,000 jobs due to the
US consumer and commercial downturn.

The firm also warned that its profits would be between two
per cent and four per cent lower than expected in the three months to April 30.

Carly Fiorina, Hewlett Packard’s chief executive officer,
commented, “At this time it is quite clear that the US downturn in the consumer
market is now spreading to other regions, notably Europe.

“Recent European PC market data suggests the European
slowdown is beginning to mirror the pattern we saw in the US – growing softness
in the retail sector and increasingly competitive pricing moves followed by a
more subtle but just as meaningful slowdown in the enterprise space.”

Fiorina said the job losses would be among management positions
but did not announce where or when the job cuts will happen.

www.hewlettpackard.com

By Ben Willmott. Click
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