The Hewlett-Packard Corporation isn't through from laying off its workers, planning to cut about 2,000 more jobs. Last month of May, the HP Co. had announced to eliminate 27,000 jobs from its workforce, yet still they can't get enough, and according to a regulatory filing Monday, HP will be expanding the job cut to 29,000 by October 2014.
A month ago, HP suffered its biggest lost, which may have resulted to this unexpected raised in HP's workforce cut. Hewlett-Packard remained silent, and didn't provide any explanation about the matter. Thus, employees of the company would have opted to retire early, since it has been visible that the printer and computer market is slumping and getting weaker as an increasing number of gadgets nowadays like smartphones and tablets become more appealing for the market consumers.
Change is the ever constant thing in this world, even with the market industry, the rapid market shift to mobile devices had affected a lot of printer and personal computer manufacturing companies. HP as one of the leading tech giant providing quality printers as well as print supplies like laser toner cartridges and HP inkjet cartridges, had been greatly affected by the market shift. To diversify the company's status, HP plans to release a new line of tablets and other more profitable line of products this fall season.
HP's revenue and profit fall down, as reported from Palo Alto, California, that the company loss about 5% from its revenue when compared to the same quarter a year earlier. This bad news could lead to a number of tremendous intrigues, which may affect the company's weakening status. Jonathan Yarmis, HfS Research Analyst said, "How many more of these layoffs are HP employees going to be subject to?". They fear of not knowing when could this end, and that neither HP knows when.
This could be the third-largest job cut off in the market of printers and computers businesses. If you can recall, IBM had a 60,000 workforce reduction in the middle of 1993, and also AT&T which had a laid off of 40,000 jobs in the year of 1996, data gathered by HfS Research.
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