Webwire: HP slashes jobs as profit falls; Court clears Eircom rescue plan
HP will lay off around 27,000 employees – some 8% of its workforce – in a bid to cut costs by up to $3.5 billion (€2.7 billion) annually. Word of the cuts came as the company reported a 31% slump in Q1 profit.
Ireland's High Court has approved a plan to rescue operator Eircom from bankruptcy by slashing costs and handing control of the company to its major creditors.
Vodafone India is unlikely to pursue an IPO this year due to the ongoing uncertainty over aspects of the government's telecom policy, such as spectrum pricing and refarming decisions, according to CEO Marten Pieters.
Apple CEO Tim Cook and Samsung chief Choi Gee-sung failed to come to an agreement during court-mandated truce talks surrounding their ongoing legal war.
A US jury has ruled Google’s Android OS does not infringe Oracle’s Java patents.
Apple has slammed a US Department of Justice lawsuit covering e-book price fixing, claiming the suit “sides with monopoly, rather than competition.”