HP hasn’t exactly been the name of success these past couple of years, but it looks like the situation is even more dire than HP itself has thought. According to HP’s updated SEC 10-K filing, the company will now be forced to layoff 34,000 employees throughout 2014 – that’s up 5,000 employees from its previous estimate just a couple of months ago. HP CEO Meg Whitman has promised that this will be the last big round of layoffs to hit the company.
HP claims in the report that the move will save the company a grand total of $4.1 billion per fiscal year, however the question remains – is it enough? HP is an old dog in this industry, primarily manufacturing and selling old fashioned notebooks and desktop PCs in what Steve Jobs famously called the “post-PC” era. With nary a smartphone or an impressive tablet in the lineup (sorry, HP Slate 7 – you just aren’t cutting it) HP will need to do more than just cut their workforce to meet end’s meat in the coming days. Of course, one could argue that a certain webOS platform now owned by LG could have been the answer to some of their prayers, no?