HP Announces 24,600 Layoffs in Wake of EDS Acquisition

Hewlett-Packard will lay off about 24,600 employees over the next three years in an effort to streamline the company following its US$13.9 billion acquisition of Electronic Data Systems last month, the company announced Monday.

The layoffs will be part of a three-year restructuring program, HP said in a statement. The company will lay off about 7.5 percent of its workers during that time, with nearly half of the reductions coming from HP's U.S. workforce, HP said.

About half of the positions will eventually be replaced, the company said.

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