24 May 2012 27,000 jobs to go at Hewlett-Packard Hewlett-Packard, the world's largest maker of personal computers, is to cut 27,000 jobs by the end of 2014. The move, which will affect about 8% of the company's 350,000 strong workforce, forms part of a cost cutting drive aimed at saving up to £2.2billion a year. The company, which has operations in 180 countries and employs about 20,000 people in the UK, said it expected the workforce reduction to impact 'just about every business and region'. The firm's chief executive Meg Whiteman, who joined HP last September to turn the company around, commented: "While some of these actions are difficult because they involve the loss of jobs, they are necessary to improve execution and to fund the long term health of the company. We are setting HP on a path to extend our global leadership and deliver the greatest value to customers and shareholders." As part of Whitman's proposed changes, HP's head of Autonomy Mike Lynch will be replaced by Bill Veghte, HP's chief strategy officer. Mr Lynch will leave after what HP called a 'transition period'. HP said in a statement that the money saved by the job losses would be reinvested into the company. Author Laura Hopperton Comment on this article Websites http://www.hp.com Companies Hewlett-Packard Ltd This material is protected by Findlay Media copyright See Terms and Conditions. One-off usage is permitted but bulk copying is not. For multiple copies contact the sales team. Enjoy this story? People who read this article also read... NIDays 2013 NIDays is a technical conference designed specifically for ... Read Article Southern Manufacturing This year, Southern Manufacturing and Electronics is set to be ... Read Article Arrow buys Nu Horizons Arrow is buying Nu Horizons in an all cash deal which values the ... Read Article Claire Jeffreys, NEW Claire Jeffreys, events director, National Electronics Week, ... Read Article What you think about this article: Add your comments Name Email Comments Your comments/feedback may be edited prior to publishing. Not all entries will be published. Please view our Terms and Conditions before leaving a comment.