Hewlett Packard Trims Jobs to Save Money

In the face of the deepening economic recession, Hewlett Packard has decided to cut about 2% of its jobs, which amounts to 6,400 employees. These steps will be taken in order to alleviate the aftermath of a drop in profits, which fell 17 percent to $1.7 billion.

Hewlett Packard has expressed its pessimism over the state of the market in other ways as well, increasing its predicted drop in sales from 2-5 percent to 4-5 percent. The company predicts that sales of personal computers will be especially hard hit.

The company will not be flatly cutting jobs, though. Rather, Hewlett Packard continues to expand its operations, such as by commissioning a data center in Colorado Springs worth $260 million, a move that will create 25 jobs. However, the company is also planning to shut down a call center in the same city that creates over 800 jobs.

Image: Hewlett-Packard