Whitman’s Ax: 4,000 Left HP Payroll in Third Quarter

Hewlett-Packard Co. (NYSE: HPQ) CEO Margaret (Meg) Whitman has been swinging her ax at the company's payroll: during the third quarter ended July 31, as 4,000 left the company as part of her plan to trim the roster, which was 349,600 on Oct. 31.

More cuts and firings are ahead for the Palo Alto, Calif., company, the world's biggest computer provider, to restore profitable operations ahead, Whitman said. The company previously announced plans to trim 8 percent of its workforce by Oct. 31, 2014.

Most of the cuts stem from prior acquisitions of companies including Electronic Data Systems of Texas in 2008 and Autonomy of the UK in 2011, initiated by Whitman's predecessors.

HP announced a record loss of $8.9 billion, or $4.49 a share in the third quarter. In early Thursday activity, shares fell 6 percent to $18.05, down $1.15.