Plagued by cost-conscious corporate buyers and smartphone-loving consumers, the personal-computer market has become a dangerous place to do business.
Hewlett-Packard (HPQ-N21.08-0.70-3.21%), the world’s largest PC manufacturer, announced Wednesday it will lay off 27,000 employees, or 8 per cent of its work force. The layoffs, which are the largest in HP’s history, come as the computer-maker tries to find a way to get profits growing again at a time when global sales of information technology (IT) are stagnating and only a handful of PC companies are seeing their fortunes improve.
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