HP Plans Layoffs As Profits, Sales Fall
Hewlett-Packard plans to cut 2 percent of its workforce in the next year it was noted in a conference call to analysts after the company reported generating $1.7 billion in profit for the quarter that ended April 30, down 17 percent from the same quarter last year.
Total sales for the quarter were $27.4 billion, down 3 percent from the same time last year. The Americas was the only place — 9 percent to $12.1 billion — where HP saw growth in the quarter. Revenue fell 11 percent in Europe, the Middle East and Africa and 10 percent in Asia Pacific to $10.6 billion and $4.7 billion, respectively.
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