HP cutting 5,900 jobs in EMEA

Hewlett-Packard Co. (HP) Wednesday confirmed that it will cut a total of 5,900 positions in Europe, the Middle East and Africa as it continues its restructuring efforts following the acquisition of Compaq Computer Corp.

The company made the announcement to employees in those regions late Tuesday, without announcing a breakdown of where or when the layoffs will occur, said Monica Sarkar, an HP spokeswoman. After its Compaq acquisition, HP has about 46,000 employees in Europe, the Middle East and Africa.

HP Chairman and Chief Executive Officer Carly Fiorina has said that 15,000 jobs would be cut from the combined company worldwide as a result of the acquisition. About two-thirds of those job cuts are expected to take place before November, with the remaining cuts taking place by the close of HP's fiscal year 2003, which ends Oct. 31, 2003. Fiorina has pledged that layoffs and other reorganization efforts will reduce operating costs by US$2.5 billion by the end of fiscal year 2003. A decision on where the layoffs will take place geographically and at what divisions is expected to come following scrutiny from regulators in each respective region, Sarkar said.

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