HP may cut 25,000 jobs

HP is looking to cut at least 25,000 jobs in a bid to reduce costs and return to growth, according to media reports.

The cuts are expected to hit between eight to 10 percent of the company’s more than 300,000 employees across the world, Reuters’ sources have said.

The sources said that the job cuts are “under discussion” but have not been finalised.

Job losses could be announced as early as next week to coincide with HP’s quarterly results. However, no time frame has been set for the redundancies, and the location of cuts is not known.

HP said it is not commenting on the "speculation".

HP’s CEO and president Meg Whitman has been recently travelling the world to reaffirm the company’s commitment to its customers.

At an event in London last week, she pledged to boost investment in R&D, declaring that innovation at the company was “alive and well”.

Meanwhile in Shanghai, she reiterated HP’s commitment to its PC business, promising that its new Printers and Personal Systems (PPS) division would get “more than its fair share” of the R&D investment.

Whitman reversed former HP CEO Leo Apotheker’s decision to spin off the company’s PC business when she took over in September 2011.