HP cuts 27,000 jobs, to plow savings into R&D

HP will cut 27,000 jobs — around 8 percent of its global workforce — in an effort to restructure the company to bolster its bottom line. HP said it will take $3–3.5 billion in savings and invest it in R&D. HP chief executive Meg Whitman said the cuts will spread over the next two years — the end of fiscal year 2014 — reducing the short-term harm to morale in the company. 

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