It's final, HP will lay off 27,000 staff

BANGALORE, INDIA: Last week's news on Hewlett Packard resorting to job cuts has been asserted by its CEO Meg Whitman.

At a conference in the US on Wednesday, she said the company knows that work force reductions adversely impact people's lives. "But in this case, they are absolutely critical to the long-term health of the company. Our goal is simple: a better outcome for the customers at reduced cost for HP,'' she said.

The company has been struggling to make profit by selling its computers with the rising popularity of smartphones, tablets and other mobile devices. HP, which employs more than 300,000 people across the globe, is cutting 27,000 jobs.

The company expects to save at least $3.5 billion annually from the job cuts.

The job cuts, which could include retirements, are under discussion but have not yet been finalized, people familiar with the situation told Reuters.