H-P (HPQ) says on its earnings call (live blog) it shed 4K jobs in FQ3 as part of its...

|About: HP Inc. (HPQ)|By:, SA News Editor

H-P (HPQ) says on its earnings call (live blog) it shed 4K jobs in FQ3 as part of its restructuring, and now plans to eliminate 11K in FY12, up from prior guidance of 9K (ed: how bad would FY12 guidance be if not for the extra cuts?). Also mentioned: H-P seeing "competitive" PC/printer pricing (no surprise); printer channel inventory is high; PC component prices are unfavorable; high-density servers (popular with Internet companies) are dilutive to margins, with "business model innovation" needed to compete (Amazon would agree). H-P reverses course, now -3% AH.