Hewlett-Packard is in the midst of reinventing itself by spinning off its hardware and printing business from its services business. But the fast-moving pace of changing technology has led to cost-cutting within the company, including the up to 30,000 workers expected to be laid off in the latest round, CEO Meg Whitman told CNBC on Wednesday.
As other “old-line tech” companies also try to reposition themselves on the cutting edge of the enterprise space, some analysts say it’s just a matter of time before others need to dramatically cut costs. After all, HP is far from the only company experiencing the “tectonic shifts” Whitman described seeing over the past five years.
One particularly close analogy to HP is IBM.
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This article originally appeared on Recode.net.
