HP Cutting 2 Percent of Work Force

PALO ALTO, Calif. (AP) â€” Hewlett-Packard Co. is cutting 2 percent of its work force as part of the computer and printer giant's ongoing reorganization plan. <br><br>About 1,700 jobs will be cut in

Tuesday, January 30th 2001, 12:00 am

By: News On 6

PALO ALTO, Calif. (AP) â€” Hewlett-Packard Co. is cutting 2 percent of its work force as part of the computer and printer giant's ongoing reorganization plan.

About 1,700 jobs will be cut in locations all over the world, HP spokeswoman Rebeca Robboy said Monday. The laid-off workers will be able to apply for other positions in the company, though such openings are limited, she said.

The changes stem not from current market conditions, but rather from HP's strategy over the past year to consolidate product lines and reorganize the mammoth company, eliminating the need for some positions, Robboy said.

``It's been in the works for a long time,'' she said.

Affected workers are expected to be notified by mid-February. Palo Alto-based HP has 88,500 employees.

Shares of HP were up $3.09 to close at $37.53 on the New York Stock Exchange.

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On the Net:

http://www.hp.com