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Hewlett Packard to Cut 25,000 Jobs

By Bill Zeeble, KERA Reporter

Dallas, TX – Nearly 25,000 jobs will be cut from Plano-based Electronic Data Systems and its parent company Hewlett Packard. Most of those losses are expected to come from EDS.

New EDS owner Hewlett Packard says a restructuring program spread over the next three years will result in job cuts at both EDS and Hewlett Packard. HP says 7.5 percent of the combined worldwide workforce will lose their jobs - that's 24,600 workers.

Half the reductions will be made in the U.S. Hewlett Packard didn't provide numbers expected at the EDS Plano headquarters. HP did say Texas remains a key to its success. It also said it would help laid off workers with severance packages, state assistance, counseling and job placement services.

HP added the job cuts should save the corporation nearly $2 billion a year.