US computer giant Hewlett-Packard plans to cut an additional 11,000 to 16,000 jobs on top of the 34,000 positions it had previously announced.
Reuters reports that the company began a restructuring program in 2012. The newly announced job cuts follow the company’s posting of a 1 per cent drop in quarterly revenue on Thursday.
The result was the company’s 11th consecutive quarterly sales decline.
HP's CEO, Meg Whitman, said in a statement that the company's turnaround “remains on track.”
“We're gradually shaping HP into a more nimble, lower-cost, more customer- and partner-centric company that can successfully compete,” she said.
Whitman said that the company wants to further streamline its operations. However, she added that research jobs are vital for its future and will continue to grow.
HP is aiming to move its focus from PCs and towards computing and networking equipment for enterprises.
"As HP continues to reengineer the workforce to be more competitive and meet its objectives, the previously estimated number of eliminated positions will increase by between 11,000 to 16,000," the company said a statement.