Monday evening, global technology company Hewlett-Packard (NYSE:HPQ) announced that due to its acquisition of Electronic Data Systems (EDS) 24,600 jobs would be cut over the next three years. The recent acquisition has created a number of duplicate job areas that are to be targeted for the cuts. Hewlett-Packard said total annual savings should be approximately $1.8 billion. Shares of Hewlett-Packard were down 3.49 percent to $45.33 at the end of the day.

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