US computer and printer maker Hewlett-Packard said yesterday it expected to report an earnings shortfall for the second quarter and would cut up to 3,000 management jobs.
Hewlett-Packard became the latest high-profile technology company to warn about its results. It blamed a rapid deterioration in consumer information technology spending around the world.
A spokeswoman for HewlettPackard Ireland said last night each business unit would evaluate its management structure over the next few weeks before an announcement of where the job cuts would be made. The company employs 2,100 people at its plants in Leixlip, Co Kildare and in Dublin.
The Palo Alto, California-based company forecast a drop in revenue of 2 per cent to 4 per cent both sequentially and year-over-year for its fiscal second-quarter ending April 30th. Hewlett-Packard said the results were also hurt by currency exchanges.
Hewlett-Packard, a component of the Dow Jones industrial average, projected earnings per share of 13 to 17 US cents for the quarter, including about $150 million of one-time inventory and capacity writedowns relating to some of its consumer products.
