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HP to shed 24 600 EDS jobs

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As it beds down its Electronic Data Systems (EDS) acquisition, HP will cut 24 600 jobs over the next three years, mostly from EDS. About half of the layoffs will be in the US.

The figure represents just less than 8% of the combined company's headcount, which numbers 320 000.
The layoffs are part of a move to cut costs and refocus EDS operations, and about 12 000 new jobs will be created in the process.
It's not clear if the new jobs will be in the US and Europe, or if the company plans to take advantage of lower-cost technical skills in the Asian markets.
The job cuts will save HP about $1,8-billion a year.