HP is trying to move toward computing equipment and networking gear for enterprises.
Whitman said the turnaround remained on track and her raised target reflected how HP continued to find areas to streamline across its broad portfolio, which encompasses computing, networking, storage and software. But some analysts wondered whether it signalled a worsening outlook for the coming year, or if more jobs may be cut.
"The rationale makes sense," said RBC analyst
HP, whose sprawling global operations employ more than 250 000, estimated about three years ago when it first hatched its sweeping overhaul that it would need to shed 27 000 jobs. That number rose to 34 000 last year.
On Thursday, it estimated another 11 000 to 16 000 more jobs needed to go, scattered across different countries and business areas. That took the total under Whitman's restructuring to 50 000.
But that goal remains elusive. The company posted a disappointing 1% drop in quarterly revenue, as it struggled to maintain its grip on the shrinking personal computer market and weak corporate tech spending.
That marked its 11th consecutive quarterly sales decline.
Shares in HP closed down 2.3% at
Research jobs, which are vital for innovation and long-term growth, will continue to grow, Whitman stressed.
HP is looking to cut back more in "areas not central to customer-facing and innovation agendas," she said in an interview, rather than areas like research. "That's not what we're doing here. You need to look at the R&D spending, which is up."
HP recorded sales of
On Thursday, HP forecast full-year earnings of
It reported non-GAAP diluted net earnings of
Most Popular Stories
- National Retail Federation Reduces Sales Forecast
- Hispanic Leader Goes the Extra Mile
- Xavier Gutierrez Appointed to Bank Board
- Ted Cruz: Why Did FAA Ban Flights to Israel?
- Honda' s Accord Plug-in Hybrid Is a Fuel Miser
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges
- Stop-Start Engines Save Gas, Reduce Emissions
- Long-term Strengths Emerge in U.S. Economy
- Risks of Layoffs Becoming Rarer in U.S.
- Weekly Jobless Claims Drop to Lowest Level in 8 Years