HP CEO Meg Whitman
HP has chopped nearly 28,000 people from its workforce since May 2012, and will cut a total of about 29,000 by this time next year.
And that's the end of the big layoffs, Meg Whitman said on Wednesday during the company's annual analyst meeting, in San Jose, Calif.
The huge layoff will be completed by October 2014, the end of HP's fiscal 2014 year, HP says. Today Whitman promised, "After 2014, we are not going to do another big restructuring."
That's a bold statement considering that HP has actually been in an almost constant state of management changes and layoffs since around 2008, when HP bought an IT company called EDS. That's particularly so in its Enterprises Services business, the unit that absorbed EDS.
The acquisition of EDS doubled HP's headcount at the time from 172,000 workers to 311,000. By 2011, HP had shed 25,000 workers from HP ES, and employees told us it cut another 5,000 or so in the beginning of 2012, too. All of that before HP announced the current round of cuts.
HP says it has 331,800 employees today and revenues keep shrinking, with Whitman now saying HP won't see growth in 2014, as originally promised. We've heard that some analysts are grumblings that HP needs more cuts.
Right now, at least, Whitman says that this isn't going to happen.
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