HP confirmed last night it plans to scrap 27,000 jobs from its global workforce as the computer manufacturer undertakes a corporate restructure.
In a conference call this morning, the company said it plans to scrap about 8% of its workforce by the end of the 2014 financial year.
“We’ve got to streamline our operating model,” chief executive Meg Whitman said during the call, according to Mashable. “We went business unit by business unit and said, ‘What do we want to focus on, and how many individuals do we need to deliver that service?”
The company revealed revenues of $US30.7 billion for the quarter, down 3% from the previous quarter. Profits were also down 31% to $US1.59 billion.