Computer and printer giant Hewlett-Packard is planning to axe 8,000 jobs in Europe by the end of 2014 it has been claimed.
The jobs blow was reported by German magazine Wirtschafts Woche which quoted an unnamed worker representative in their article which said up to 1,000 of those jobs could be lost from Germany alone.
HP employs around 10,400 employees in Germany so, if true, the cutbacks could have a significant blow to its operations there.
According to the magazine: “Up to 1,000 jobs (in Germany) are in acute danger.”
In May, HP had said that it expected to eliminate about 27,000 employees, or eight per cent of its workforce as part of a massive restructuring program.
The job losses were to take place by end end of the 2014 financial year as part of a package designed to generate more than £3bn of savings per year – money which HP said would be mainly reinvested back into the company.
HP, which posted a second-quarter profit which was above market estimates, says it aims to use cost savings from the planned job cuts to drive organic growth.
HP in Germany was not available to comment.
Via Nasdaq.com
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