HP may cut about 15,000 jobs

HP will lay off thousands of people to become more competitive with other players on the market. Sources claim IT, sales and services will be among the areas particularly hit, although the sweeping cuts will be felt throughout the company. HP aims to safe $1 billion a year in costs during the next two years.

"Almost every area will be affected across-the-board, but it won't be 10 percent cuts in every department. It'll be in areas where (HP) need to improve their benchmark against competitors," the source said. "Mark Hurd, HP's chief executive, likes to benchmark against the competitors and IT, sales and service are areas where (HP) needs to improve efficiencies."

HP denied to give comment on the layoffs but it is expected that it will make an official statement on Monday. More details at CNET