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 SAN JOSE, Calif. (AP) - Striving for Dell Inc.'s efficiency and IBM Corp.'s breadth, Hewlett-Packard Co. said Tuesday it will cut 14,500 jobs and overhaul its retirement plan in a move that all but buries the legendary company-employee bond known as the "HP Way."
The computer and printer maker once known for treating employees like family said it will save $1.9 billion a year as it trims its global work force of 151,000 by 10 percent over the next 18 months.
HP did not specify where jobs will be lost. But executives said support jobs will be most affected — in information technology, human resources and finance — as they weed out inefficiencies.
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