Hewlett-Packard Co. said Monday it cut about half its information-technology operating costs and implemented other changes that will equate to savings of about $1 billion per year. Palo Alto-based HP (NYSE:HPQ) said it ended a revamp of its IT operations that emcompassed about three years and will also mean a cut in internal IT spending to about 2 percent of revenue in 2009. In 2005 the company spent about 4 percent of its revenue in that area.HP said it consolidated more than 85 IT data centers into six centers and cut energy consumption by 60 percent, partly because of a 40 percent decrease in the number of servers.The company also cut about 10 percent of its work force when it began the restructuring process.
Wireless smartphone maker Palm Inc. said Monday it is cutting its work force and consolidating offices, and expects second quarter revenue in the range of $190 million to $195 million and restructuring costs of $7 million to $9 million.
American Musical Theatre of San Jose said Monday that it has closed its operations and will file Chapter 7 bankruptcy this week.
http://www.bizjournals.com/ct/rc/30414/www.bizjournals.com/sanjose/stories/2008/12/01/daily18.html
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