HP to Cut Up to 16,000 Jobs
"As HP continues to reengineer the workforce to be more competitive and meet its objectives, the previously estimated number of eliminated positions will increase by between 11,000 to 16,000."
Second quarter GAAP diluted net earnings per share (EPS) was $0.66, up from $0.55 in the prior-year period and within its previously provided outlook of $0.62 to $0.66. Second quarter non-GAAP diluted net EPS was $0.88, up from $0.87 in the prior-year period and within its previously provided outlook of $0.85 to $0.89. Second quarter non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax costs of $418 million and $0.22 per diluted share, respectively, related to the amortization of intangible assets, restructuring charges and acquisition-related charges.
Second quarter net revenue of $27.3 billion was down 1% from the prior-year period and flat on a constant currency basis.
"With the first half of our fiscal year completed, I'm pleased to report that HP's turnaround remains on track," said Meg Whitman, president and chief executive officer, HP. "With each passing quarter, HP is improving its systems, structures and core go-to-market capabilities. We're gradually shaping HP into a more nimble, lower-cost, more customer- and partner-centric company that can successfully compete across a rapidly changing IT landscape."
In May 2012, HP adopted a multi-year restructuring plan designed to simplify business processes, accelerate innovation, lower costs and deliver better results. HP previously estimated that 34,000 positions would be eliminated in connection with the plan.
As HP continues to reengineer the workforce to be more competitive and meet its objectives, the previously estimated number of eliminated positions will increase by between 11,000 to 16,000.
Pet Care | Real Estate | Restaurants | Tech | View All | * Add/Upgrade Business
Placer County News HeadlinesCalifornia Gas Prices Soaring HigherRoseville gas prices are soaring with many stations seeing a return near the $4 gallon mark.
Top 100 Paying Jobs in California (Final)The final installment takes us to the top paying job in California based on median wage.
Toyota Sienna: Reliability and Enviable ReputationThe 2015 Toyota Sienna is an eight-passenger vehicle (seven seats with captain's chairs) that offers comfortable seating, great storage room, user-friendly controls, and surprising performance
Golfweek Magazine: Clear Creek Tahoe Among Best CoursesClear Creek Tahoe, the exclusive Coore & Crenshaw designed golf course near Lake Tahoe was recently recognized by Golfweek Magazine as the No. 18 Best Residential Course
Amendment Targets Fed Water Policy in CaliforniaDrought Watch: The House of Representatives adopted an amendment by Congressman Tom McClintock to forbid federal agencies from buying up scarce water
Marides Helps Others with DisabilitiesIn both 2014 and 2015, now 50-year-old Hillary Marides, of Los Angeles, California, was first runner-up in the Ms. Wheelchair California competition.(via ATOU Cares)
50 Days of the Grateful Dead: Hell in a BucketLate winter of 1990, the Dead play Albany N.Y. and rip through an energetic version of Hell in a Bucket.
Chapa-De Indian Health Program Grand Re-Opening in AuburnChapa-De Indian Health Program will hold a grand re-opening ceremony and ribbon cutting event on Thursday, May 7
Roseville Crime Report Digest Update (5.1.15)Roseville Police crime report digest update for May 1, 2015.
Dutch Bros. Increasing Auburn PresenceOn Wednesday, May 6, Dutch Bros. Coffee is opening a new location at 405 Grass Valley Hwy.
Roseville Air Quality Fails AgainRoseville, in South Placer County has a great many things going for it. Air quality isn't one of them.
Taxpayers Save $830,000 on Bond RefinanceDuring its April Board meeting, the Sierra College Board of Trustees authorized the refinancing of its existing bond debt for Measure H in the Tahoe-Truckee region
NEWS: In Case You Missed It