HP To Announce Job Cuts

2012-05-23 09:13:13

Published on 2012-05-23 09:13:13

Printer ink company HP will announce plans to cut a significant part of its workforce in its quarterly results on Wednesday, it has been predicted.

Marketwatch has reported that a restructuring plan will be unveiled alongside the company's results, with experts expecting the printer ink giant to reveal a revenue of $29.9 billion (£18 million), representing a drop from the $31.6 billion revenue recorded last year.

Speaking to the news provider, Sterne Agee analyst Shaw Wu noted that job losses could be "inevitable".

"These are never fun but given where HP is, these are necessarily to get the company back on track," the specialist continued.

Tough competition in HP's commercial markets has been cited as one of the factors for the predicted cuts.

Despite these predicted results, HP recently unveiled its latest portfolio of products.

Among these is its first all-in-one printer, entitled the HP Officejet 150 Mobile All-In-One.

It is targeted at business professionals and aims to offer durable printing, scanning and copying capabilities.

Posted by Johnny McMaster.

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