HP to slash additional 5,000 jobs

Hewlett-Packard Co said it would cut 5,000 more jobs,bringing the total number of layoffs to 34,000,or 11 per cent of its workforce. The company said in a regulatory filing on Monday that it would record a charge of 4.1 billion in 2014,up from its prior estimate of 3.6 billion.

HP is striving to get back to growth through job cuts and focusing on businesses with longer-term potential. HP had estimated that it would cut about 29,000 jobs through fiscal 2014.