HP starts plan to cut real estate costs

business-times.asia1.com.sg :

Hewlett-Packard is starting a 4-year programme to cut its real estate costs by combining operations in several hundred locations to fewer sites. The announcement expands on chief executive officer Mark Hurd's plan to reduce annual costs by US$1.9 billion and simplify HP's corporate structure.

The company, which is eliminating 15,300 jobs, said in May that it will close 84 data centres worldwide and run IT operations out of 6 centres in the US to save an additional US$1 billion. HP owned or leased about 65 million sq ft of office, manufacturing and research space worldwide as of Oct 31, according to the company's annual report.

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