HP May Cut 8-10% of Workforce Starting Next Week

Bloomberg adds to the report, stating that the number includes 10,000 to 15,000 from HP's enterprise services group. This department, which sells a range of information-innovation services, has been beset by declining profitability.

The cut is part of newly installed CEO Meg Whitman's overall plan to return the Silicon Valley company back into positive growth. PC sales are reportedly dropping due to consumer favoritism towards tablets. The company has as well been slow to shift away from IT services and focus on the current trend of cloud computing.