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HP to cut 30,000 jobs


The technology giant is to shed 30,000 jobs as part of a restructure

Hewlett-Packard (HP) has announced 25,000 to 30,000 jobs will be cut from the company as a result of restructuring.

This represents around 10% of the business' current workforce.

The losses will come from Hewlett Packard Enterprise (HPE), which is splitting from the printer and PC business by the end of 2015. The 25,000 to 30,000 jobs to be cut will be on top of the 55,000 job losses announced earlier this year.

According to BBC News, chairman and chief executive Meg Whitman told Wall Street analysts that this will be the last such cut due to restructuring. "We've done a significant amount of work over the past few years to take costs out and simplify processes, and these final actions will eliminate the need for any future corporate restructuring," she said.

HP is one of the world's biggest technology companies, with revenues expected to top $50 billion in 2015. However, the business has struggled in the last 10 years to stay ahead of trends in computer use, such as a move away from desktop PCs.

Shares in HP (HPQ) fell 1% to $26.84 in after-hours trading on Tuesday following the job cut announcement.