suntimes
SHARP 
Weather Updates

Hewlett-Packard laying off 27,000 workers in restructuring

PALO ALTO, Calif. (AP) — Hewlett-Packard says it’s laying off 27,000 workers, 8 percent of its work force, as it restructures the business.

The Palo Alto, Calif., company says it’ll save $3 billion to $3.5 billion annually from cost cuts, including the layoffs.

Hewlett-Packard Co. expects to complete the job cuts by the end of fiscal 2014.

Shares are up $1.40, or 6.6 percent, to $22.48 in aftermarket trading Wednesday.



© 2014 Sun-Times Media, LLC. All rights reserved. This material may not be copied or distributed without permission. For more information about reprints and permissions, visit www.suntimesreprints.com. To order a reprint of this article, click here.