posted by Howard Fosdick on Thu 24th May 2012 19:41 UTC
Hewlett Packard announced the company would lay off nearly nine percent of its 300,000 person workforce over the next two years, or about 27,000 people. The move is expected to save HP $3 billion to $3.5 billion annually. HP stock went up 5% in response to the news Thursday morning. Research firm Ovum asks "...the key missing piece is [Whitman's] long-term company vision and strategy, which hopefully will be revealed to an anxious customer base soon... the question still remains: Just what kind of company does HP want to be next year, three years, five years from now?"