Hewlett-Packard and cosmetic firm Revlon have reportedly announced end of year job cuts of thousands of workers.
HP said that it would cut 5,000 more jobs than planned as the company struggles amidst declining global computer sales.
According to the BBC, HP is expected to cut 34,000 positions, or 11 percent of its workforce, by the end of 2014.
Meanwhile, Revlon has announced that announced its plans to leave China and cut 1,100 jobs.
The cosmetic company said that the job cuts would save the firm around 11 million dollars a year amid declining global sales.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app