Hewlett-Packard employees say job cuts are coming

A Corvallis newspaper reports that according to employees and managers, Hewlett-Packard will cut 45 percent of its work force.

Calls to corporate headquarters were returned, but gave no information about lay-offs.

The story is first out in the Gazette Times.  Bennett Hall reported the story even though his sources were anonymous.  Hall said the same story came from so many people he felt compelled to report it.

The report says 400 employees will lose their jobs.

A Hewlett-Packard spokeswoman would not comment about the layoffs.  She said the newspaper report was wrong but wouldn't clarify what was incorrect.  She gave this statement: "We are aggressively looking at ways to drive growth and customer value.  IPG's transformation is about improving its business to better serve its customers."

One employee said managers instructed them not to speak to reporters.  He says employees believe something big is going to happen.