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HP Will Reportedly Lay Off 10%-15% of Workforce

The plans are reportedly not locked down yet but Bloomberg says early retirement offers could go out to several thousand people

An HP source told Business Insider that HP is going to make "massive" job cuts of 10%-15% of its workforce of 324,600 people.

Bloomberg then picked up the tambourine and said the number is more like 8%, or 25,000 people.

Factoring in attrition, early retirement and shifting jobs offshore, Business Insider reckons "HP's total workforce numbers won't reflect all of the cuts." It thinks "we might also hear that HP is not going to rip the bandage off in one fell swoop, but will do one modest layoff in 2012, shift more work to offshore workers, and trim the workforce more over time."

It's expecting to hear that HP Services is having "another abysmal quarter" and that "HP's outsourcing units could be particularly hit hard with whatever layoffs come and many of their jobs moved offshore. We're hearing that people with eight-10 years of experience - or are at the top of the salary charts - are the most vulnerable."

Bloomberg says the enterprise services group, which includes HP's $13.9 billion EDS acquisition, will cut 10,000-15,000 people because of its declining profitability.

The plans are reportedly not locked down yet but Bloomberg says early retirement offers could go out to several thousand people. Evidently HP is working with McKinsey, the big-time consultants.

HP reports its quarter on May 23.

CNBC waded in to say HP is likely to announce cuts when it posts its numbers Wednesday.

The Dow Jones blog All Things Digital pegs the number at about 30,000 jobs but basically agrees with Business Insider that it could take a year or more, which if true will play havoc with HP's already lousy morale.

It said CEO Meg Whitman will paint the layoffs as a way to use the cost savings to make vital investments distinguishing her from Mark Hurd who just cut and aligning her more with her immediate, more widely reviled predecessor Léo Apotheker.

It fixes the voluntary retirement budget at 5,000 people.

Cutting 5% is projected to save HP about $1.2 billion and tickle EPS.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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