HP Cutting 24,600 Jobs Amid EDS Buyout

Hewlett-Packard CEO Mark Hurd is taking out the hatchet again, this time cutting 7 percent of HP’s workforce — or 24,600 jobs — over the next three years, according to Reuters. The move will reduce costs as HP digests the recent acquisition of Electronic Data Systems (EDS).

Sounds scary for HP and EDS employees. But at least they got a heads-up from the company — a far better fate than the poor folks over at Lehman Brothers Holdings Inc.