1. Firings

    HP Laying Off 27,000 Workers

    A gardener cuts the grass at Hewlett Packard Company headquarters in Palo Alto, Calif., Tuesday, July 19, 2005. Computer and printer maker Hewlett-Packard Co. said Tuesday it will cut 14,500 jobs, about 10 percent of its global work force of 150,000 and overhaul its retirement program in a restructuring plan designed to save $1.9 billion annually and bring costs closer to those of competitors. (AP Photo/Paul Sakuma)

    Paul Sakuma / AP Photo

    Another day, another round of firings for tech giant Hewlett-Packard. The Silicon Valley-based company said Wednesday that it would layoff some 27,000 employees as it attempts to curb costs and shore up revenue. The total firings number around 8 percent of the compnay’s global workforce. CEO Meg Whitman is attempting to re-shift what was once a cutting-edge company that has recently struggled to keep up with the Facebooks and Googles of the world. The cuts will “further streamline our operations,” Whitman said in a statement, noting the “long term health of the company.” HP reprted better-than-expected quarterly profits and sales, though did not raise its outlook for the immediate future, which remained low.

    Read it at Fortune