Hewlett Packard to cut 9,000 jobs

The world's leading computer maker, Hewlett Packard announced that it would cut 9,000 jobs in the next few years as a part of a restructuring exercise.

The restructuring is expected to bring savings of about $500-$700 million a year.

The company plans to invest $1 billion in its enterprise services unit, over a multi-year period. The company said the job cuts will be the result of productivity gains and automation.

HP will invest in fully automated, standardised, state-of-the-art commercial data centres built on its converged infrastructure and operated by its industry-leading management software.

Leveraging its experience from its own IT transformation, HP will enable clients to migrate their applications to these modernised infrastructure platforms, allowing them to run their businesses faster and more efficiently, a company release said.

Last year, the company had slashed 6,700 jobs in a bid to cut costs.