Hewlett-Packard to axe as many as 30,000 more jobs amid restructuring

The restructuring effort that will see seminal Silicon Valley firm Hewlett-Packard split into two companies will also cause an additional 30,000 employees to lose their jobs, the company has revealed.

HP chief Meg Whitman announced the planned cuts at an analyst conference this week, according to the BBC. That could boost the total number of job losses as a result of the split as high as 85,000.

The move is expected to save $2.7 billion yearly, with a one-time $2.7 billion charge.

"We've done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring," Whitman is quoted as saying.

HP announced plans to split its enterprise and consumer offerings into separate companies late last year. Whitman will remain in charge of HP Enterprise, and both companies —  the other will call itself HP Inc. —  will continue as publicly-traded entities.

The split and resultant job cuts represent an ignominious end for the company founded by Bill Hewlett and David Packard in 1939, which led the rise of Silicon Valley and remains one of the world's largest corporations. HP has largely missed the boat on the post-PC era, thanks in part to the revolving door of executive leadership — chief executives Carly Forina, Mark Hurd, and Leo Apotheker were all hired with great fanfare and eventually fired for poor performance or misconduct.