April 18, 2005 4:08 PM PDT

HP offers some employees buyout package

Hewlett-Packard is offering a voluntary-separation package to some employees in its imaging and printing unit through the end of the week as part of a plan to shift employees to higher-growth areas.

The Palo Alto, Calif.-based company is trying to reduce staffing levels in areas such as black-and-white laser printers, inkjet printer manufacturing and single-function inkjet printers, spokeswoman Monica Sarkar said.

The move is part of a restructuring plan announced in November, for which HP took a $200 million charge. HP had spent $60 million of those restructuring funds in its last quarter.

At the same time, the company is trying to expand in areas where revenue growth is higher, including digital entertainment, digital photography, color office printing and digital publishing with its Indigo product line, Sarkar said.

Depending on results from the voluntary program, HP could also reassign or lay off employees later. The buyout offer began April 1 and closes on Friday. HP didn't disclose details or how many employees received the offer.

 

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