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HP to cut an additional 11,000-16,000 jobs

Bishkek (AKIpress) - Hewlett-Packard Hewlett-Packard reported earnings that met estimates, though revenue was just slightly below expectations.

The company also said it would cut an additional 11,000 to 16,000 jobs, the company said.

The extra cuts bring the total for its restructuring program to as many as 50,000.

The company posted earnings of 88 cents per share, excluding items, on revenue of $27.3 billion.

Analysts had expected the company to report earnings excluding items of 88 cents a share on $27.41 billion in revenue, according to a consensus estimate from Thomson Reuters.

The company also forecast third-quarter earnings of 86 cents to 90 cents per share, versus a Wall Street estimate of 89 cents per share.


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