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Reports: HP Plans To Cut Around 8000 Jobs In Europe By The End Of 2014

Computer and printer maker Hewlett-Packard Co. (HPQ) plans to cut around 8000 jobs in Europe by the end of 2014, the German magazine Wirtschafts Woche reported, citing an unnamed worker representative. The company may cut up to 1,000 jobs in Germany.

The company employs some 10,400 employees in Germany. In Germany, every tenth position could be eliminated, the magazine reported.

"Up to 1,000 jobs are in acute danger," the magazine reported citing HP employee representatives of the business week.

In May, HP had said that it expects to eliminate about 27,000 employees, or 8% of its workforce as of October 31, 2011, by the end of fiscal year 2014 as part of a restructuring that is expected to generate annualized savings of $3.0 billion to $3.5 billion, majority of which would be reinvested back into the company.

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