Hewlett-Packard announced on Thursday that this year it expected to lay off an additional 11,000 to 16,000 employees as part of its restructuring plan. There is no word exactly who or what divisions will be downsized, but Wall Street responded very positively to the news as HP?s stock price rose 6% during trading on Friday. The gain in stock price also comes after the company did not meet expectations in the first quarter of the year and revenues declined in most of the company?s segments. Some believe that the company is preparing for another round of outsourcing, similar to its strategy in 2002.
See "HP?s Massive Layoffs Are Doing Wonders for Its Stock Price", Victor Luckerson, TIME, May 22, 2014