NEW YORK — Hewlett-Packard on Tuesday announced that it would cut 5,000 additional jobs after already having layed off 29,000 workers earlier this year.
According to a report from Reuters, the latest round of layoffs, announced on New Yearís Eve, will bring the total percentage of the companyís workforce that has been trimmed to 11 percent.
In a recent SEC regulatory filing, HP said it has engaged in "which require management to utilize significant estimates related to the timing and amount of severance and other employee separation costs for workforce reduction." The company also said its selling, general and administrative costs declined 2.9 percent in part due to its continuing restructuring efforts. HP could not be reached for comment.
Restructuring charges decreased in fiscal 2013 due primarily to the $2.1 billion charge recorded in fiscal 2012 for the restructuring plan announced in May 2012, HP said in its SEC filing. The charges of restructuring for this fiscal year amounted to $1 billion.
HP had previously estimated that it would cut approximately 29,000 jobs through fiscal year 2014 -- which it had already done by the time the additional 5,000 jobs were announced.
HP is currently preparing its first 64-bit ARM servers the based on the XGene SoC from Applied Micro, which are running in its labs. The servers are planned for shipment in 2014. The company also plans to release a line of consumer and industrial-grade 3D printers next year in order to help spark growth. The company recently lost the lead in the PC market to Chinese OEM Lenovo.