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Layoffs Continue to Mount

Stocks in this article: ATV PEP HP IBM AVP SHLD

HEWLETT-PACKARD

Hewlett-Packard is cutting webOS jobs, although it says that it will try to redeploy 275 employees to other roles within the company. WebOS is an operating system that HP says no longer needs many of the engineering positions that it required before. The plans were announced at the end of February.

The firm plans to make the platform's source code available under an open source license by September. The system was acquired in 2010 as part of HP's buyout of Palm for $1.2 billion. Since then, the firm has chosen to go the open source route instead of selling off the system to other vendors.

HP posted mixed results in the first quarter. The company is about to undergo a major transition to improve its supply chain and sales force productivity under new CEO Meg Whitman.

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