Hewlett Packard may axe 800 people
Hewlett Packard (HP) has started laying off employees in Bangalore with the number of those who will eventually lose their jobs expected to be above 800, according to people familiar with the development. They said the process started on Monday in the aftermath of HP's IT services unit losing part of the Bank of America (BoA) account to HCL Technologies. The employees belong to level 1, 2 and 3, some of them part of the support team. These levels correspond to expertise in fixing problems. When asked about the layoffs, an HP executive said: "The report has no merit." An HCL Tech spokesperson said, "We don't comment on rumours." "Letters started going from Monday onwards and started mainly with the support group, and they will probably be given one month's notice period," said one of the persons cited above. The company reportedly employs more than 317,500 people globally. An HP official said it does not provide details about staff strength by location.
Read the Economic Times news report here.