UPDATE 3-HP to cut 24,600 jobs; to take $1.7 bln EDS charge
Mon Sep 15, 2008 8:13pm EDT

(Adds CFO comments on financial outlook; updates stock move)

By Eric Auchard
REuters

SAN FRANCISCO, Sept 15 (Reuters) - Hewlett-Packard Co (HPQ.N: Quote,
Profile, Research, Stock Buzz) plans to cut 7.5 percent of its work
force, or 24,600 jobs, seeking to realize savings from its recent
acquisition of Electronic Data Systems Corp, the company said on Monday.

HP said it would carry out the cutbacks over the next three years, while
replacing about half the jobs in new areas of its services business. It
announced the plan ahead of a meeting with Wall Street analysts to
detail the merger plans.

Nearly half of the job reductions will take place in the United States,
the Palo Alto, California-based company said.

EDS was headquartered in Plano, Texas, near Dallas.