Hewlett-Packard (NYSE:HPQ) is planning 1,000 job cuts in Germany.

Hewlett-Packard To Cut Germany Jobs

As part of its European-wide redundancies, the personal computer maker Hewlett-Packard (NYSE:HPQ) plans about 1,000 layoffs in Germany.

The German magazine Wirtschafts Woche reported that Hewlett-Packard (NYSE:HPQ) would eliminate 8,000 jobs in Europe by 2015, and these layoffs would help the company to drive organic growth by reducing costs.

However, a Hewlett-Packard (NYSE:HPQ) spokesman was not ready to comment on the report. The company already announced that it will reduce its global workforce by 8 percent by the end of 2013.

Hewlett-Packard Co. (NYSE:HPQ) stocks were at 20.30 at the end of the last day’s trading. There’s been a -13.8% movement in the stock price over the past 3 months.

Hewlett-Packard Co. (NYSE:HPQ) Analyst Advice
Consensus Opinion: Moderate Sell
Mean recommendation: Error
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: Error
Zack’s Rank: 2 out of 2 in the industry