In May this year, HP confirmed that the company will fire a total of 27 000 employees by the end of the fiscal year 2014. A number that corresponds to eight percent of HP employees worldwide, but the company has previously not indicated which countries or regions that will suffer.

 “These initiatives build upon our recent organizational realignment, and will further streamline our operations, improve our processes, and remove complexity from our business,” said Chief Executive Meg Whitman in a statement. “While some of these actions are difficult because they involve the loss of jobs, they are necessary to improve execution and to fund the long term health of the company.”

According to a source who is said to be familiar with the plans, 9000 jobs in the U.S. and 8000 jobs in Europe will disappear. A breakdown on where the European employees would be reduced has not been given. HP has chosen not to comment on the matter.

Layoffs began in late October last year when the company had about 350 000 employees worldwide. By cutting down on the number of employees HP hopes to save between $3 billion and $3.5 billion by 2014, most of which will be reinvested back into the company.

For the period ending April 30 , HP reported a profit of $1.59 billion, down from $2.3 billion, or a decrease of 31 percent compared to the same period last year. Turnover also fell 3% to $30.69 billion, down from $31.6 billion the same quarter last year.

(via IDG News)