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Hewlett-Packard Falls on Revenue Warning, Job Cuts

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Hewlett-Packard (HWP) was down 6.2% in preopen Instinet trading after the company warned its revenue for the third quarter would be 14% to 16% lower than the year-ago period and said it was cutting 6,000 more jobs.

The printer and computer maker said weak economic conditions around the world have hurt its business, particularly in the consumer segment.

The company said the job cuts would come mostly in the fourth quarter and yield an annual savings of about $500 million.

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