*NEWS*HP SPENDS $236MIL ON SEVERANCE PAY

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*NEWS*HP SPENDS $236MIL ON SEVERANCE PAY

 user 2005-06-15 at 11:12:00 am Views: 56
  • #11526
    HP spends $236 million on severance payments
    June 2005 – San Francisco
    (CA): Hewlett-Packard spent $236 million on employee severance payments and
    workforce rebalancing programmes between November and April.

    HP reported
    restructuring charges of $177 million in Q1 and $59 million in Q2.

    The
    company has said that the charges will allow it to reduce its global workforce
    by around 3,000 employees
    .