July 19, 2005 9:10 AM

HP announces huge layoffs
Posted by Jason Tuoheyat 9:10 AM

Computer giant Hewlet-Packard announced it would slash its workforce by about 14,500 - or approximately 10 percent of its employees - in an effort to restore profitability and prosperity to the company.

The quote below shows who'll be most affected by the layoffs:

HP, which employs about 150,000 workers across the globe, said most of the cuts will come in support functions, such as information technology, human resources and finance. The remainder will be made inside business units.