Huge job cuts may be looming at Hewlett-Packard

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SAN JOSE, Calif. — Layoffs of potentially more than 30,000 employees could be coming soon at tech-giant Hewlett-Packard, according to some analysts.

"A reduction in force will improve confidence" in HP, Brian Marshall, an analyst with the International Strategy & Investment Group, concluded in a note to his clients Thursday. He had previously predicted that HP would slash its global workforce of about 350,000 by about 5 percent. Quoting an unnamed HP source, the Business Insider said Thursday the cuts could be 10 percent or more.

HP spokesman Michael Thacker declined to comment.