HP Shares Fall on Light Results; Plans to Cut up to 16,000 More Jobs | Re/code

Perhaps HP will rebound by selling $99 Android tablets

"The company just said it expects to lay off more people. Job cuts announced in 2012, which was to top out at 34,000 jobs, will be increased by between 11,000 and 16,000 jobs. That will push the upper end of the range of jobs eliminated since Meg Whitman took over as CEO to an even 50,000.

HP’s profit on a per-share basis was 88 cents on revenue of $27.3 billion. Analysts polled by Thomson Reuters had projected a profit of 88 cents a share on revenue of $27.4 billion.

In a statement, Whitman said the turnaround effort she undertook when she stepped into the CEO role in 2011 “remains on track.”"

HP Shares Fall on Light Results; Plans to Cut up to 16,000 More Jobs | Re/code