H-P Puts Job-Cut Cost at $200 Million
Restructuring should cut earnings by 4 cents a share.
Hewlett-Packard
(HPQ) - Get Report
expects staff cuts to cost $200 million in the first half of fiscal 2005, the hardware maker disclosed in a regulatory filing Tuesday.
Earlier this month, the Palo Alto, Calif., company said its outlook for the first half of the fiscal year, which began this month, assumed cuts across H-P's businesses that would result in restructuring charges of 4 cents a share during the period. H-P said the cuts will start in the first quarter, but it has not specified which business units would be affected and how many jobs would be slashed.
Shares of Hewlett-Packard fell 13 cents, or 0.6%, to $20.07 in recent trading.
