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HP expected to announce layoffs

HP has alleged that Autonomy wilfully misrepresented its value

Gulf News

Hewlett-Packard, the US computer firm, is expected to announce that it is to axe staff at its Autonomy subsidiary. HP has alleged that Autonomy, the British software company run by Mike Lynch, wilfully misrepresented its value when it acquired the business for £6.2 billion last year. It has complained to the Serious Fraud Office and to the US authorities. HP announced last month that it had written down the value of Autonomy by £3.1 billion. Lynch and the rest of the Autonomy management strongly deny any wrongdoing and have challenged HP to reveal details. There are now suggestions that up to 200 Autonomy staff are set to be sacked, though sources close to HP said it would be fewer. Autonomy is being integrated into HP’s Information Management division. HP declined to comment.