HP plans another 1,800 job cuts

An additional 1,800 employees will be cut from the ranks at Hewlett-Packard Co. (HP) by the end of its 2003 fiscal year, according to the company's recent filing with the U.S. Securities and Exchange Commission (SEC).

In the company's 10-Q filing with the SEC dated Sept. 13, it said it plans to cut a total of 16,800 positions by October of next year -- 8,200 from former HP divisions and 8,600 from Compaq units.

Right after the company closed its acquisition of Compaq Computer Corp. in May, Chairman and Chief Executive Officer Carly Fiorina said the company would cut a total of 15,000 positions by the end of its 2003 fiscal year, with the majority of the cuts coming by November of 2002.

While announcing its third-quarter earnings results in August, HP said it had cut 4,740 positions, and was on track to complete the 10,000 cuts by the end of its current fiscal year. An HP representative could not be immediately reached for comment.

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