Reginal Thomas
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Hewlett Packard Maybe Firing Another 16000 Employees


Hewlett Packard CEO Meg Whittman is letting another 16,000 employees go in an effort to boost shares. This is off an 11th straight quarter of declining sales. Since taking over the company in 2011 Whitman has seen the shares rise 39% but the company is facing a third straight year dropped annual revenues. Consumers are buying fewer personal computers and printers as they move towards using their smart phones and tablets instead, while companies are choosing to use more software based on the internet or building their own computers. Abhey Lamba; an analyst for Mizuho Securities USA Inc. said, "It clearly gives them more cushion to work on the revenue growth."