Hewlett-Packard has announced a four year plan to reduce real estate costs by consolidating several hundred business locations worldwide to fewer core sites.

According to the company:  “To reduce costs, HP expects to consolidate real estate holdings into core sites in key locations around the world, relinquish floor space within certain leased buildings and close certain sites or floors in buildings that it owns.”

Plans are not yet finalized as to which facilities will be closed or how much in savings will be generated.

The company said it would use a portion of the cost-savings to upgrade these core sites to provide “improved technology infrastructure and productivity enhancements.”

This initiative is an extension of restructuring announced on July 19, 2005, which set out to simplify the company's structure and reduce costs. The company recently announced initiatives to consolidate 85 IT data centers to six centers in three geographic locations

By: DocMemory
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