HP Cuts Jobs in Wake of Carly
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HP is to cut more jobs in the wake of poor financial performance. Financial results, the first since the departure of CEO Carly Fiorina were flat. HP reported sales for Q1 were up 10% to £11.94bn. Profit stayed at £700m though. A patent dispute with Intergraph put paid to any increase in profit. The company promised to do something about the profit situation. One solution seems to be cutting jobs. HP however would not say how many though. Through the last quarter it lost 600 jobs. Robert Wayman, HP chief financial officer and acting chief executive officer, said, "While we continue to make progress in growing our top line, there is work to be done to improve our profitability. Of course there is at least one job that does have to be filled at HP. The post left by one, Mrs Fiorina.
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