HP to Layoff 5,000 Additional Employees

Last year HP originally said that it had plans to layoff 27,000 workers as part of a major restructuring effort. That figure slowly climbed to 29,000 workers this year, and now it’s growing yet again. In a recent 10-K filing, HP said that it is now targeting to layoff a total of 34,000 employees, 5,000 more than was projected the last time HP discussed layoffs. HP blamed the increase in layoffs not on changes particularly to its restructuring plans, but rather to “continued market and business pressures.” on the consumer side, those pressures include competition in the laptop business, but also largely from tablets that have chewed into laptop sales over the past several years. HP hasn’t fared well in the mobile market at every: it doesn’t sell smartphones and its tablets are low-end at best. HP’s restructuring is focused on other areas, though. When the company first announced its massive rounds of layoffs in 2012, it said they were part of a plan to “improve execution and fund long term health” while streamlining operations and improving processes.