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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV