HP, which earlier announced that it will cut 27,000 jobs or 8 percent of its workforce, is reportedly increasing the number of layoffs to 29,000.
In a regulatory 10-Q filing with the U.S. Securities and Exchange Commission, the computer and printer maker announced that it will "eliminate approximately 29,000 positions in connection with the 2012 Plan through fiscal year 2014." The latest filing is dubbed as "2012 Plan,"
Earlier in May, HP announced that as a part of its new restructuring plans, the company would cut 27,000 of its global workforce and would strategically utilize the saved $3 to $3.5 billion for research and development.
"We are making progress in our multi-year effort to make HP simpler, more efficient and better for customers, employees, and shareholders. This quarter we exceeded our previously provided outlook and are executing against our strategy, but we still have a lot of work to do," said Meg Whitman, the HP president and CEO, during the second-quarter earnings announcement in May.
According to the latest filing notes, the company is aiming to "simplify business processes, accelerate innovation and deliver better results for customers, employees and stockholders" and thus, needs to increase the number of job cuts.
The company, reportedly, has already recorded a $1.7 billion charge during its 2012 third-quarter thanks to its restructuring plans. Also, HP already cut 3,800 jobs by the end of July 2012.
HP, which is currently trying to find a foothold in the global market of smartphones and tablet, has recently previewed its new range of Windows 8 PCs. Its new all-in-one PC line-up includes HP Spectre One, HP Envy 23, HP Envy 20 TouchSmart, and the HP Pavilion 20. The new generation PCs will be launched this fall.
