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HP Dismissing 11% Staff

HP Dismissing 11% Staff

by Naveed A LodhiJanuary 3, 2014

Withering computer industry is forcing one of its leaders to conduct extensive layoffs. According to Business Insider, Hewlett-Packard Company is going to cut about 11% of its staff. Year 2014 is very cruicial year for tech companies for survival or in order to keep balance in the market. As Dell, Yahoo, BlackBerry and many other companies are facing market stability issues, HP is also cutting its manpower in order to keep the market worth.

Of financial records, which the American PC maker sent to the Commission on Securities and Exchange Commission United States (US Securities and Exchange Commission), became aware of its intent to eliminate 34,000 positions working by October 2014, which is about 5,000 more seats than that reported in the first version of the reorganization plan for 2012-2014.

HP has lost about 24,600 employees till date. The remaining employees who fall under the program dismissal, will leave the company before the end of the current fiscal year (last until October 31, 2014). Currently, companies worldwide corporation employs about 31,500 people. Thus, for several years the staff of HP is reduced by 11%.

This measure is enforced in a falling demand for PCs and rising demands of laptops, notebooks, smartphones, netbooks and tablets. In the fourth fiscal quarter, which ended for HP October 31, 2013, the company recorded a 5 percent decline in shipments of desktops. Proceeds from their sales fell by 2%.

Net sales totaled $1.41 billion, while last year there was a net loss of $ 6.85 billion in sales for the year decreased from $ 29.96 billion to $ 29.13 billion and still the market is getting down for PCs espacially.

About The Author
Naveed A Lodhi
I am just a random citizen of Pakistan. For living I am a front-end developer, Wordpress Expert, SEO Expert. I like sharing news, reviews, ideas and information that I think can be useful for anyone on internet. So if you like this information do share it on Facebook, Twitter, Google +, StumbleUpon or click Share buttons.

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