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HP To Cut 24K Jobs; Most Will Come From EDS

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Sep 15, 2008 3:54 pm US/Central

HP To Cut 24K Jobs; Most Will Come From EDS

SAN FRANCISCO (AP) ― Hewlett-Packard Co. says it plans to cut 24,600 jobs, or about 7.5 percent of its work force, over the next three years. This major restructuring is coming as HP integrates its newly acquired technology services company Electronic Data Systems Corp.

Most of the cuts will come from within EDS's ranks, and nearly half will hit jobs in the U.S., HP said Monday after the markets closed.

There's no word yet on how many of the job cuts will come from Texas.

Palo Alto, Calif.-based HP bought EDS for $13.9 billion in a bid to challenge IBM Corp. for more of the lucrative, long-term business of helping companies manage their computing infrastructure.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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