Computer and printer maker
Hewlett-Packard is restructuring its sales and marketing organization, and it will cut about 2 percent of its workforce, according to an memo distributed at the company last week.
With a headcount of over 88,000 workers worldwide, the total number of jobs lost could exceed 1,700, although the company has not specified the exact number of eliminated positions at this point. Employees are expected to be notified about their job status in February.
Hewlett-Packard has undergone a transition in recent months — the company has dramatically streamlined its number of product organizations. HP manufactures desktop and laptop computers, workstations, servers, networking hardware, printers and digital imaging products.
Like most PC makers, Hewlett-Packard saw poor demand for its products in recent months and has cut its financial forecast for the current fiscal quarter, as well. Earlier this month, Hewlett-Packard issued an earnings warning, citing lower-than-expected enterprise information technology spending as the cause. Company president, CEO and chairman Carly Fiorina said that the company anticipated seeing limited growth through April, the end its second fiscal quarter.