Bad Bad recession/Integration - Hp to cut 25000 jobs

HP completed its acquisition of EDS on 26/8/08.
According to Zdnet and Yahoo, Hewlett-Packard is releasing details of its plans to integrate EDS into a 3 years growth strategy, including a restructuring plan for the EDS business group that will reduce Hp workforce by almost 25000 employees - half of which are in the U.S. - over the next three years.

From HP’s release -

 "... The restructuring program will take place over three years and includes a workforce reduction that will streamline the combined company’s services businesses. Workforce reduction plans will vary by country, based on local legal requirements and consultation with works councils and employee representatives, as appropriate. 

Approximately 7.5 percent of the combined company’s workforce, or about 24,600 employees, will be affected over the course of the program, with nearly half of the reductions occurring in the United States....."