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H-P revamps services unit, to cut 9,000 jobs

Hewlett-Packard Co. said it plans to shed around 9,000 workers from its tech-services division while investing USD1 billion to modernise the unit, as it moves to jumpstart growth in an industry that’s lagged behind the economic recovery.

H-P’s restructuring comes two weeks after the company said quarterly revenue in its services division – which runs computer systems for large companies and governments – rose 2 percent from a year earlier but declined by 3 percent when adjusted for currency differences.