HP Revises Its Layoff Plan By Increasing Job Cuts To 29,000 By 2014

Back in May, HP announced that it would cut 27,000 jobs in an effort to reduce costs. In an?SEC filing today, the company announced that the plan will be even more important than that by bringing the job cuts to 29,000. It expects to save $3.7 billion by 2014. It might not even be enough to offset HP's current situation. The company employs around 350,000 people worldwide. But the layoffs represent 8.3 percent of its workforce, which is still an impressive number. The filing also indicates that HP does not plan to restructure the remaining Palm assets any further after spinning off webOS into a brand new company.

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