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In May, HP announced restructuring plans that included 27,000 employee layoffs and early retirement; however, CNNMoney.com recently reported that HP’s total staff reduction has been increased by 2,000, totaling 29,000 axed jobs by the end of fiscal year 2014. Additionally, HP increased the cost of the restructuring to $3.7 billion, up from the previously announced $3.5 billion. According to the article, HP did not report where the job cuts would take place but stated that 7,000 jobs have already been cut.
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According to Foxbusiness.com, Eastman Kodak plans to axe another 1,000 employees by the start of 2013, in hopes of emerging from bankruptcy. Since the beginning of 2012, the OEM has already laid off approximately 2,700 people. According to the article, about $330 million annually is expected to be saved from the latest cuts, but it is unclear whether additional staff reductions will be needed. "Kodak is becoming a more focused and competitively scaled company," the article quoted Kodak CEO Antonio Perez. "We recognize that we must significantly and expeditiously reduce our current cost structure, which is designed for a much larger, more diversified set of businesses."
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Sharp also reported that it will cut 2,000 jobs, or about 6 percent of its Japanese workforce, through a voluntary retirement program. The reduction is set to take place the first two weeks in November, with retirees set to officially retire in December, Computerworld.com reported. The retirement program is expected to cost approximately $340 million, which has already been factored into Sharp’s current forecast. As of July, Sharp said its Japanese workforce totaled 30,800, with another 32,600 employees abroad.
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Get the latest news in the Press Releases/Aftermarket Updates section of Rechargermag.com. Current headlines include: Faroudja Offers Bulk Toner for the Xerox DocuColor 240; Static Control Releases New Color Toner for Brother HL-4570 Toner Cartridges; UniNet Launches X Generation Black Toner, Components for Ricoh Aficio AP 600; BentleyRowland Announces Company Name Change, Rebrands as Epic Litho Beginning September 17; Future Graphics Opens New Distribution Center; MSE’s New Branded Packaging a Success With U.S. Dealers.
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