Hewlett-Packard laying off 25,000 to 30,000 employees
Hewlett-Packard is laying off 25,000 to 30,000 employees globally as part of a restructuring program that will save the company $2.7 billion per year.
HP announced the layoffs on Sept. 15 at a meeting of its securities analysts. The cuts represent about 10 percent of HP’s workforce of about 302,000. It wasn’t immediately clear how the restructuring would affect HP’s office in Goleta.
In September of 2014, HP bought Goleta-based Eucalyptus, which focuses on developing open source cloud technology that interacts with commercial systems from Amazon and others.
Terms of the sale were not announced at the time, but Bloomberg estimated it was around $100 million. The company now operates as HP Eucalyptus.
The timing of the sale last year was odd, given that HP was creating a massive restructuring plan. HP announced plans to lay off 55,000 people in April, which saved the company about $2 billion. Of those, about 54,000 people have been laid off so far in North America.
An HP spokesman said the cuts will eliminate the need for any futher restructuring, but declined to comment further.
Update: This post was updated after HP’s responded to a Business Times inquiry.