Hewlett-Packard to cut lots of jobs as part of acquiring Electronic Data Systems

Hewlett-Packard to cut lots of jobs as part of acquiring Electronic Data Systems

Hewlett-Packard has announced that they plan to cut around 24,600 jobs over the next three years as they are in the process of acquiring Electronic Data Systems.

HP said that most of these job cuts would be from the Electronic Data Systems operations. And a lot of these would be cut in the US market.

Before the acquisition, the two companies had total employee strength of around 320,000.

HP is acquiring EDS for a price of around $13.9 billion as they aim to become a bigger rival to the market giant IBM.

HP added that they expect to save around $1.8 billion per year from the cuts once the restructuring is complete.

Checkout: HP | EDS