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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (64301)	6/11/2002 11:49:28 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hewlett-Packard May Cut 2,000 Asian Jobs, or 10%, to Trim Costs By Greg Chang quote.bloomberg.com Singapore, June 12 (Bloomberg) -- Hewlett-Packard Co., the world's largest personal-computer maker, said it may fire about 10 percent of its workforce, or 2,000 employees, in Asia-Pacific to cut costs after the purchase of Compaq Computer Corp. Hewlett-Packard has 20,000 workers in Asia, including 6,000 in Singapore, said spokeswoman Cecilia Pang. The 10 percent figure is in line with Chief Executive Carly Fiorina's plan to cut 15,000 jobs worldwide, or one-tenth of the workforce. The company bought Compaq for $18.9 billion in May. ``As a rough estimate, overall in the region, it could be close to the global 10 percent,'' said Pang, adding that the job cuts will vary by country and business line. The job cuts would potentially be another blow to the Singapore economy, which is struggling to emerge from its worst recession since 1964. Unemployment in Singapore reached 4.5 percent in March, the highest level in more than three years. Hewlett-Packard plans to pare 10,000 jobs worldwide in this fiscal year ending Nov. 1, and 5,000 in fiscal 2003.