HP layoffs begin to shrink inkjet division
Wednesday, August 20, 2008 10:18 AM PDT
CORVALLIS (AP) — Layoffs at the Hewlett-Packard inkjet printing division in Corvallis have begun.
The Gazette-Times newspaper reports the California-based computer giant calls it the ‘‘Print 2.0 transformation’’ of the way it does business.
HP officials confirm that some cuts are expected but did not say when.
The company’s inkjet printing technology was developed by Corvallis engineers in the mid-1980s.
The Gazette-Times reported months ago that HP managers planned to shut down one of three silicon wafer fabrication facilities at the Corvallis site and that more than a third the 850 employees would be laid off. On Tuesday, HP announced its quarterly revenues rose 10 percent to $28 billion, ahead of Wall Street expectations. But personal printers slipped 14 percent compared with last year.
