HP profits lower, to cut nearly 6,400 workers

[dhilipkumar]

HP profits lower, to cut nearly 6,400 workers

computer giant Hewlett-Packard reported a 17-per cent fall in quarterly net profit on Tuesday and said it plans to cut two per cent of its workforce, or nearly 6,400 workers, over the next year.

the world's largest manufacturer of personal computers,announced the planned layoffs"These actions will be implemented over the next 12 months."

Computer shipments were flat in a "challenging environment" and the division saw revenue fall 19 per cent to 8.2 billion dollars. Revenue from laptop computers was down 13 per cent while desktop computer revenue fell 24 per cent.

Operating profit for the division fell to 374 million dollars from 544 million dollars a year ago.