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Latest NewsEconomics, government & businessJob creation and losses

IT giant cuts 6,000 jobs in Europe

by dan thomas 12 Sep 2005
by dan thomas 12 Sep 2005

Technology and IT services giant Hewlett-Packard is to cut almost 6,000 jobs across Europe as part of its restructuring plan, it has emerged.

In July, HP said it was going to cut almost 10% of its workforce (14,500 jobs) from the 150,000 global total in a bid to cut costs and boost profitability.

The details of how European staff will be affected have been revealed by the company’s European Works Council. Large multi-national companies operating in Europe are legally obliged to have a works council.

The company has confirmed that 5,900 European jobs will go, but it still has not said which locations will be affected.

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As part of the overall restructuring plan about 3,200 jobs have already been cut in the US, which has cost the company $400m (£235m).

Before the 14,500 job cuts were announced, HP had already cut 3,000 from its headcount at the beginning of the year.

dan thomas

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