Monday, September 15, 2008

HP Cuts 24,600 Jobs In EDS Integration

Hewlett Packard is cutting 24,000 employees from the firm, as part of its $13.9 billion acquisition of EDS, a spokesperson for the firm said Monday afternoon. According to HP, it will cut the jobs as part a restructuring of the firm. HP said the restructuring was due to "synergies" it found in its corporate overhead, according positions in real estate, IT, and procurement. HP said in May that it was acquiring EDS, which is based in Plano. The cuts represent approximately 7.5 percent of the company's workforce. A spokesperson for the firm told Texastechpulse.com that HP does not know how many Texas employees will be affected by the move, saying that which employees will be affected will be determined over time. HP was also unable to provide numbers on how many employees are located in Texas; EDS was one of the largest employers in Texas, with an estimated 10,000+ employees in the state.