HP Confirms Restructuring Plans

2012-05-25 12:23:38

Published on 2012-05-25 12:23:38

HP has announced new restructuring plans, which will be spread over the course of multiple years.

It is hoped that the proposals will simplify business processes, advance innovation and provide better results, with the efforts expected to generate annual savings in the range of $3 billion (£1.9 billon) to $3.5 billion.

As part of the move, the ink giant expects around 27,000 workers to leave the company by October.

Meg Whitman, HP president and chief executive officer, said: "These initiatives build upon our recent organisational realignment, and will further streamline our operations, improve our processes, and remove complexity from our business."

Ms Whitman conceded that some of the actions were difficult, but affirmed that they were necessary to fund the company's long term health.

News of the restricting comes after HP announced the opening of a technology renewal centre in Erskine, Scotland.

The premises will enable customers to pick up certified legacy HP printer ink items, whereas devices that have reached the end of their shelf-life can be recycled.

Posted by Johnny McMaster.

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