Depressing news coming out of California today: computer and printer giant HP announced a big restructuring plan that involves it saying goodbye to 27,000 workers, or 8 percent of its 325,000 global workforce, the company said.
To put it in perspective, that's equivalent to everybody in Crofton, Md. (Pop: 27,348), getting a pink slip.
The company, which hasn't been able to come up with a competitor to the iPhone/iPad/mobile device space, said it expected to save $3-3.5 billion annually with the cuts beginning in 2014. HP is offering early retirement plans. It will record a pre-tax charge of $1.7 billion, plus another $1.8 billion through 2014.