HP will announce job cuts Wednesday
Hewlett-Packard will unveil a plan to cut a big part of its work force when it reports quarterly results Wednesday, a person familiar with the matter said.
HP will post fiscal second-quarter results following media reports that the company was going to eliminate 25,000 to 30,000 jobs, or up to 10 percent of its work force.
The Palo Alto, Calif.-based company will present both its results and restructuring plan after the closing bell, the source told MarketWatch. For the quarter, analysts expect HP to post a profit on revenue of $29.9 billion.