Hewlett-Packard says it’s cutting up to 16,000 jobs. That’s on top of tens of thousands of layoffs already announced. These deeper jobs cuts signal that a company once famous for breakthroughs in the lab, hasn’t yet figured out how to reinvent itself.
H-P is a dominant player in making PC’s. But that’s a collapsing market, devastated by competition from tablets and smartphones. H-P also sells servers, but that area too is changing, with cloud computing currently fashionable.
CEO Meg Whitman took charge of the troubled company in 2011. She’s under pressure to show more results from her turnaround plan.