HP is firing 30,000 employees in an effort to cut costs and prevent from capsizing like an Italian cruise ship.

HP CEO Meg Whitman reportedly plans to use the saved money on boosting efficiency of HP’s sales force and designing new products.

Unnamed HP execs told the New York Times that HP will seek layoffs and voluntary retirements across the company and up to ten percent of HP’s workforce could be out of a job by the time the process is complete.

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