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 HeadlinesGrowing Weed in Placer County? Rules and ComplianceAuburn, CA - With Placer County's cannabis ordinance now in effect for over a year, county staff will host three drop-in meetings in May to answer questions about rules for cannabis cultivation
2018 Volkswagen SportWagen provides versatilityRoseville, CA,- Versatility is the 2018 Volkswagen SportWagen's main calling card, yet it has other enviable qualities that make it a good choice for car buyers.
Fundraiser in honor of Roseville transplant patientApril is Donate Life Month, but for Roseville resident Jason Crutchley, it's another month spent hoping he will receive a second chance at life.
Construction and Trades Job Fair this SaturdaySacramento, CA- For the fourth year in a row, the North State Building Industry Foundation will hold its annual Skilled Trades Job Fair this Saturday, April 21.
(CIA) presents Conversations at Copia: TerroirNapa, CA,- The CIA at Copia, The Culinary Institute of America's newest venture in downtown Napa will present Conversations at Copia: Terroir on Sunday, May 6, 2018.
Roseville Earth Day Festival at Royer ParkRoseville, CA- On Saturday, April 21 from 10am - 3pm, the Arts Council of Placer County will be hosting Earth Day 2018 at Royer Park (190 Park Drive, Roseville, CA 95678)
Kaiser Permanente in Roseville names Jordan Herget as Senior VPRoseville, CA,- Jordan Herget, a health-care executive with more than 13 years of senior leadership experience in multiple health systems, has been named senior vice president and area manager
Brennan named President of Landmark ConstructionLandmark Construction has named Kevin Brennan, Nevada City resident, as president of the $75 million privately owned, public works general contracting company
BottleRock Napa Valley Lineups for JaMPad Stage and VIP Village Acoustic StageNAPA, CA, -- BottleRock Napa Valley 2018, presented by JaM Cellars, has announced the lineups for the JamPad Stage and VIP Village Acoustic Stage powered by Cisco
Rick Hillman Named Folsom Police ChiefFolsom, CA - Folsom City Manager Evert Palmer recently announced that Folsom Police Department Commander Rick Hillman will be the next City of Folsom Chief of Police.
William Jessup Announces New Research InstituteROCKLIN, Calif. - William Jessup University recently announced the creation of a new research endeavor, the Institute for Biodiversity and the Environment (IBE).
Napa Valley: What's New for Spring and SummerNapa, CA- Come discover what's new in the Napa Valley, including new and upcoming experiences, shops, wine tasting, restaurants, and hotels.
NEWS: In Case You Missed It