HP to cut 6,400 jobs as Q2 profits fall - Dallas Business Journal:

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Tuesday the company said its profits for the second quarter fell 17 percentto $1.7 billion. HP project s its sales will drop 4 percent to 5 percengt for thefull year. Earlier estimates had put the drop betwee 2 percent and 5 The company did not say what locations would be affected bythe cuts. Last year HP doublee the size of its ink cartridge recyclinv facility inLa Vergne, where the company also has credi card fulfillment operations. Personal computer sales will be particularly hard hit, the company expects. HP has about 321,000 workers. It has 4,009 workers in Ireland and plans to add 500 jobs near though it also cut somejobs there. It also has a big presencs in India.
The company’s situation in Colorado Springs illustrates the complec calculus of job creation and HP asked permission last month to build a big data worth upto $260 million, accordiny to some reports, at its existing campus in Coloradio Springs. That center will add aboug 25 jobs (plus 300 to 400 temporaryu construction jobs), but at the same time, HP is closingy a call center in the city thatemploysw 800. Colorado Springs offered a package of tax rebatexs to entice HP to keep 125 more jobs inthe area. Some of the 800 call centefr workers were offered jobsif they’f move to Rio Rancho, N.M.
, where Hewlett-Packarc is building a 1,350-person call due to open at the end of the The 6,400 job cuts aren’t part of the Palo Alto company’x digestion of of Plano, Texas. HP bought EDS last year for $13.o9 billion. The company was startedc by Ross Perotin 1962. The additioh of EDS’ business boosted HP’s sales in the service segmeny duringthe quarter, which ended Aprilp 30.