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Hewlett-Packard to layoff 27,000 by end of 2014

  • Hewlett-Packard, the world's largest maker of personal computers, is to cut 27,000 jobs by the end of next year.

    The company said the cuts, totalling about 8 percent of its workforce, would reduce costs by up to $3.5 billion a year.

    According to a statement released by the group, the money would be reinvested into the company.

    HP employs about 350,000 people worldwide. It has not yet disclosed where the job cuts will take place.