HP Cuts 6,000 Jobs

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Palo Alto, Calif. - Hewlett-Packard reported today it will lay off about 6,000 workers, 6.6 percent of its work force, and is predicting revenue to decline between 14 percent and 16 percent year over year for its third quarter ending July 31.

HP CEO Carly Fiorina blamed weak worldwide economic conditions for the fall off and said the company's consumer business will show and even bigger loss with sales expected to be down 24 percent. She said the layoffs are a direct response to these expectations, adding most will be implemented in the fourth quarter.


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