Hewlett-Packard says it is cutting another 11,000 to 16,000 jobs, above a target of 34,000 the company outlined in a multi-year restructuring plan in May 2012 and offered an outlook that was below expectations. Shares fell.
Hewlett-Packard plans to jettison 27,000 workers as the growing popularity of smartphones, the iPad and other mobile devices makes it tougher for the company to sell personal computers.