HP restructuring to cut 2,000 more jobs Hewlett-Packard has announced 2,000 more job cuts and extra costs of $200m as the pace of restructuring increases at the world's biggest PC maker by shipments. In a regulatory filing, HP updated the multiyear restructuring plan it announced in May. The group said it planned to cut 29,000 jobs by the end of its 2014 fiscal year, up from the 27,000 it stated earlier. A portion of the jobs will come from an "enhanced early retirement" scheme for US employees. The expanded cuts amount to about 9 per cent of HP's global workforce. HP has been losing ground in PCs to Asian manufacturers such as Lenovo which operate at lower cost. It has been shifting its focus to software and services for businesses under Meg Whitman, who took over as chief executive a year ago. The company is merging its printing and PC divisions and has shaken up its services business, replacing its chief executive and recording an $8bn impairment charge last month. HP raised the cost of the restructuring programme in its regulatory filing on Monday to $3.7bn from $3.5bn. Redundancy and pension costs will be about $3.3bn, with $400m earmarked for other items, including data centre and real estate consolidation. The company recorded $1.7bn in charges during its July quarter and said 3,800 positions had been cut by the end of that month. It expects 11,500 to leave this year, up from earlier estimates of 9,000 as more people than expected take advantage of the early retirement programme. Shares in HP were 1.2 per cent higher at $17.50 in afternoon trading in New York. They are down 32 per cent so far this year.