With Greece on the brink of quitting the Eurozone, the world’s economy does not seem to be any rosier despite recent austerity measures that were taken. Unless you are Apple with a crazy stock capitalization, chances are your bottomline is also being badly affected, and even behemoths like HP is said to be working on a workforce reduction by 25,000 to 30,000 people, at least according to folks who are familiar with HP’s inner wheelings and dealings. These cuts were tipped to be part of the recent decision by top management to merge a couple of its business units, hence making redundant the number of employees by approximately 8%. This is part of the continuing effort by HP to reduce their expenses as they contemplate bread and butter issues such as declining revenue and profits. When contacted, a HP spokesperson naturally declined to share any comments, so we will just have to wait and see whether this speculation pans out or not. Brace yourselves, HP employees!
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