Hewlett-Packard Co. announced July 19 that it is cutting about 14,500 jobs, or 10 percent of its work force over 18 months.
An HP spokesman declined to delineate the number of positions affected at HP’s Rancho Bernardo campus.
“We’re not giving out any numbers on how this affects local offices,” said H-P spokesman Mike Moeller.
The local site, H-P’s headquarters for its imaging and printing group, has about 1,700 workers.
The restructuring at Palo Alto-based H-P has been in the works for months following the hiring of new Chief Executive Officer Mark Hurd in late March.
Some analysts predicted cuts of up to 25,000 jobs.
The plan, disclosed July 19, would provide savings of about $1.9 billion annually, starting in fiscal 2007, according to the company.
H-P said it also expects to take charges of about $1.1 billion for restructuring costs, mainly related to severance packages.
This year, H-P conducted a voluntary layoff of some 1,900 employees that reduced its worldwide staff to about 151,000.
In May, the company said about 100 staffers in Rancho Bernardo accepted the buyout offers.
Most of the cuts this time will come from support operations such as information technology, human resources and finance, the company said.
HP said it is moving personnel from a separate sales unit into three business units.
HP also froze its company pension plan for current employees, but will retain it for those already retired or close to retiring.
In place of a pension plan, HP said it would increase its matching contribution to employees’ 401(k) retirement plans from 4 percent to 6 percent.
— Mike Allen
