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.
Follow Us On Facebook
Pet Care | Real Estate | Restaurants | Tech | View All | * Add/Upgrade Business
Placer County News HeadlinesRoseville Crime and Police Activity Updates (12.9.16)Roseville, CA- Roseville's latest police activity digest for the period covering the dates of November 29-December 7, 2016.
9 Holiday Shopping & Safety TipsThe Roseville Police Department wants everyone to have a great, safe shopping experience in Roseville.
Women's West Coast Tournament of Champions returning to RocklinRocklin, CA - On Dec. 17-18 the Women's West Coast Tournament of Champions (WWCTOC) returns to Hardwood Palace in Rocklin
David and Dolly Fiddyment Awarded for Achievements in PhilanthropyRoseville, CA - The Association of Fundraising Professionals California Capital Chapter awarded David and Dolly Fiddyment with the 2016 Outstanding Philanthropists Award
9 Interesting Facts about Winter Home SalesSacramento area Realtor Julie Jalone of MagnumOne Realty in Roseville writes about a recent Redfin real estate study which indicates sellers should not discount the winter months to list their homes.
New California Laws 2017 (Part 3)New California laws for 2017. Part 3 includes pro sports teams, bankruptcy, state employees, foster care, voting rights, organ transplants, marijuana and more.
Autism: Great Minds Don't Always Think AlikeSteve Silberman will present "Great Minds Don't Always Think Alike," a deep look at the hidden history of autism and the promise of a future
$1 Million Grant Targets Chronic Homeless in Placer CountyPlacer County will receive a $1 million grant from Sutter Health to help house its chronically homeless population under a grant agreement approved
Martis Valley Groundwater Management UpdatePCWA Board approves alternative submittal for the Martis Valley Groundwater Basin.
Robert Dugan joins Sacramento Metro ChamberThe Sacramento Metro Chamber announced that Robert Dugan will join the organization as Senior Vice President of Public Policy & Economic Development
Roseville Councilmembers to be Sworn In December 7thRoseville, CA - Newly-elected Roseville City Councilmembers Bonnie Gore, John Allard and Scott Alvord will be sworn in on Wednesday, December 7th.
$250,000 for Local Nonprofits Working on Mental Health IssuesRoseville, CA - Placer Community Foundation recently made $250,000 in grants for mental health prevention and early intervention in Placer County.
NEWS: In Case You Missed It