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Hewlett-Packard to cut 14,500 jobs, reduce some pension benefits- No word on layoffs in Boise

Personal-computer and printer maker Hewlett-Packard Co. http://www.hp.com/ on Tuesday said it will cut 14,500 jobs, about 10 percent of its full-time staff, as part of a restructuring plan designed to save $1.9 billion annually and boost business performance.
“Our goal is a simpler, nimbler, quicker HP,” said Mark Hurd, the company’s chief executive officer and president since March. “We know hard work lies ahead of us.”

There was no immediate word on how the restructuring plan would affect HP’s Boise campus, which currently employs about 3,400 workers.

The job cuts will occur over the next six quarters, the Palo Alto-based company said.

Full Story: http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20050719/FRONTPAGE/50719002

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