H-P’s Whitman takes charge with big cuts. From @marketwatch

SAN FRANCISCO (MarketWatch) — Hewlett-Packard Co.’s Meg Whitman made her biggest, and probably toughest move in announcing the computer giant’s biggest layoffs ever, and if she and her team execute, she could be bringing shades of Lou Gerstner’s IBM revival to H-P.

Gerstner is well-known in American business for his turnaround at International Business Machines Corp. IBM -0.36% . In one of his first big moves, Gerstner and his right-hand man, CFO Jerry York, did a big round of job cuts within three months of joining IBM in 1993. But he also reinvested and built up the company’s now-massive services business. 

H-P’s HPQ -3.21%  Whitman has similar plans, and investors were giving her an initial thumbs up. She promises to eventually reinvest some of the $3 billion to $3.5 billion the company will save in innovation, research and development, as well as quality and design of products. She also plans to better streamline H-P’s business processes. Read more about H-P layoffs. 

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