HP’s latest earnings report comes with some somber news. The company is laying off even more employees before the end of 2014.
This thinning of the herd runs correlates with President and Chief Executive Officer, of HP Meg Whitman’s statements in 2013, where she said “After 2014, we are not going to do in 2013.” The restructuring plan will not finish until October 2014.
Revenue from printing was down 4% year over year, though HP sold a few more printers than the year previous.
The company’s personal systems revenue was up 7%, though revenue from consumers was down 2%.
“With the first half of our fiscal year completed, I’m pleased to report that HP’s turnaround remains on track,” says Whitman. “With each passing quarter, HP is improving its systems, structures and core go-to-market capabilities. We’re gradually shaping HP into a more nimble, lower-cost, more customer- and partner-centric company that can successfully compete across a rapidly changing IT landscape.”
HP’s restructuring plan was announced in 2012, and claimed an estimated 34,000 positions would be cut to “be more competitive and meet its objectives,” according to the press release. The report unfortunately increased that number “by between 11,000 to 16,000.”