Hewlett-Packard just announced it will cut 24,600 jobs over the next three years, as it integrates tech consultancy EDS. Half the cuts will take place in the U.S. The company is taking a $1.7 billion charge in the fourth quarter to account for the costs of shedding jobs.
Auction giant eBay may have to cut ten percent of its 15,000-strong workforce if CEO John Donahoe wants to keep his job, research firm Wedge Partners reports.
Time Warner CFO John Martin told investors yesterday that while online subsidiary AOL's ad network Platform-A "had been growing like a weed,'' the company now doubts it will hit its revenue targets. "We have seen some cancellations," Martin told conferencegoers. "It gives us pause in terms of our confidence to ramp advertising in the back half of the year.'' AOL also laid off 5 to 10 employees from its "Shared Services" group yesterday.