Tech giant HP is reportedly set to cut eight per cent of its global workforce in a cost-saving move that would see up to 30,000 jobs slashed.
The job cuts are set to be confirmed to coincide with the firm's next set of financial results, which will be released on Wednesday, according to multiple reports, all citing unnamed internal sources.
Such blood-letting would mark a radical change in strategy for HP, as it seeks to reverse its crumbling fortunes.
The firm has embarked on a number of job culls to streamline costs in the past few years, but an eight per cent reduction will require major organisational restructuring. This large-scale job loss programme would be expected to lay the foundations for rebuilding the company.
For its last financial year, HP made just $7.1bn profits on revenues of $127bn. It has been criticised for being slow to respond to major industry trends such as cloud computing. And its attempt to gain ground in the smartphone and tablet markets proved to be an expensive embarrassment.
HP coughed up $1.2bn to buy Palm but torpedoed the unit after little more than a year, with its WebOS devices flopping despite a widely-admired operating system. HP's chief executive Meg Whitman also began her rein with a speedy u-turn on the plans to shut down its PC-making business.
HP declined to comment on the reports.
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