HP: 27,000 Job Cuts To Save Up To $3.5B By 2014, Q2 Sales Down 3% To $30.7B

A mixed bag of news for HP today: it has posted Q2 sales that have just edged out analyst expectations, but it has also?confirmed?27,000?job cuts that should save the company between $3 billion and $3.5 billion by 2014. The company is a tech behemoth: it employs 350,000 people worldwide, before these cuts were announced. This means the cuts are equivalent to about 8 percent of its workforce.

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