Slashes 850 jobs
The troubled maker of expensive printer ink HP has confirmed that it is closing its site in Germany by the end of October.
The site, in Ruesselsheim, Germany, has more than a thousand employees and more than 850 jobs would be cut. The remaining 250 employees may be able to transfer to HP partners or clients. The move appears to be part of HP’s attempts to restructure its enterprise services business.
HP said last year that it was planning to lay off 29,000 employees over two years as it tries to return to growth. Last year HP started a multi-year restructuring last year aimed at focusing the sprawling company on services targeted at corporations. This followed multiple attempts to re-image the company over the last decade by several chief executives.
The attempts largely failed making the job of CEO of HP a poisoned chalice that few managers would want to tarnish their careers with.