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HP To Cut 850 Jobs In Germany

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Hewlett-Packard Co. (HPQ: Quote) said Friday it will cut 850 jobs at its Enterprise Services business in Germany and close its site in Rüsselsheim by October, as part of a multi-year restructuring program the PC maker unraveled last May.

The closure of the Rüsselsheim site will result in the elimination of 850 positions, and those affected can apply for open positions at other HP sites. About 250 employees at the site will have the opportunity to transfer to HP partners or clients.

The Enterprise Services restructuring will not impact any of HP's other major sites in Germany, where the company has 10,000 people on its payrolls.

The necessity of job cuts in Germany stem from efficiency gains, local partner outsourcing and consolidation with its global service delivery hubs, the company said in a statement.

"...HP Enterprise Services has an aggressive plan to optimize its portfolio and its sales and delivery model, and to improve its cost structure, resource management and operations," said Mike Nefkens, executive vice president, HP Enterprise Services.

Last year, HP said it will eliminate 29,000 employees over two years in a bid to register a healthy growth trajectory. The company employs about 300,000 people worldwide.

HP is trading at $16.63, up 0.73%, on a volume of 8.2 million shares on the NYSE.

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by RTT Staff Writer

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