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Technology Stocks : HWP -- Hewlett Packard

HPQ 27.77

+0.9%

3:38 PM EDT

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To: Dave B who wrote (4701)	5/7/2002 3:38:03 PM
From: Dave B	Read Replies (1) of 4722

HP'S Fiorina says layoffs to happen quickly - next 6-9 months SAN FRANCISCO, May 07, 2002 (AFX-Asia via COMTEX) -- Hewlett-Packard Co chief executive officer Carly Fiorina told investors that layoffs, in relation to the company's merger, would happen quickly over the next six-to-nine months subject to local employment laws. The original 15,000 reduction in headcount forecast when the merger with Compaq Computer Co was originally announced remains in place, Fiorina said. The job cuts are due to the number of redundant positions that have been created with the merger, said Fiorina. She added that in some areas where the business is growing, headcount will be increased. The company will offer a voluntary redundancy program and employees will receive details of which positions will be made redundant first, Fiorina said. leb/djp Copyright 2002. AFX News Ltd. All rights reserved.

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