Hewlett-Packard is to make over 6,000 employees redundant. The job cuts are further to 25,000 redundancies still under way as a result of the company’s acquisition of IT services company EDS last year.
The news coincides with HP’s latest financial results. The world’s largest IT provider saw revenues fall 3% to $27.3 billion in its second financial quarter of the year, which ended on 31 April 2009. Profit for the quarter was down 13% year-on-year to $2.3 billion.
This decline was in spite of the addition of EDS’s revenues. Thanks to that acquisition, HP’s services division grew revenues by 99% to $8.5 billion. Without the extra revenues from EDS, the company’s revenue decline would have been around 20%.