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HP may cut up to 1,000 jobs in Germany report

HP may cut up to 1,000 jobs in Germany - report

By Reuters | Updated: 25 June 2012 10:06 IST

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U.S. group Hewlett Packard, the world's largest personal computer maker, may cut as many as 1,000 jobs in Germany as part of planned European-wide redundancies, WirtschaftsWoche reported, citing an unnamed staff representative.

HP is planning to cut about 8,000 positions in Europe by the end of 2014, the German magazine said, citing unnamed officials close to the company.

"As many as 1,000 jobs (in Germany) are acutely endangered," WirtschaftsWoche quoted the labour representative as saying.

HP, which employs more than 300,000 workers globally, said in May the layoff of 27,000 workers, or 8 percent of its workforce, would be made mainly through early retirement and generate annual savings of $3.0-$3.5 billion as it exits its 2013/14 year.

HP, which posted a second-quarter profit above market estimates, aims to use cost savings from planned job cuts to drive organic growth.

HP in Germany was not available to comment.

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Further reading: Germany, Hewlett-Packard Co