HP to close site in Germany, cutting 850 jobs

HP said it was closing its site in Ruesselsheim, Germany, southwest of Frankfurt, and that around 850 jobs would be cut. The remaining 250 employees may be able to transfer to HP partners or clients.

The restructuring of its enterprise services business will not affect HP's other major sites in Germany, the company said, adding that it would continue to employ about 10,000 people in Europe's largest economy.

HP said last year that it was planning to lay off 29,000 employees over two years as it tries to return to growth.

The company, which employs more than 300,000 people globally, began a multi-year restructuring last year aimed at focusing the sprawling company on services targeted at corporations.

HP shares were up 16 cents at $16.67 in morning trading.

© Thomson Reuters 2013