HP has announced 25,000 to 30,000 employees are expected to leave the company as part of its bid to deliver $2.7 billion (€2.4 billion) of cost savings.

The US-based vendor is splitting into two separate entities in November as it aims to turn around its fortunes.

All the cuts will come at its Enterprise business, which will focus on infrastructure, software and services.

HP’s Chairman, President and CEO Meg Whitman commented: "These restructuring activities will enable a more competitive, sustainable cost structure for the new Hewlett Packard Enterprise.

"We've done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring."

Last month, HP unveiled falling revenues and earnings in the three months to July.

The company said it anticipated annual revenues at HP Enterprise of more than $50 billion (€44 billion) for the year ahead.

In particular, it pointed to sales from cloud-associated services, which it forecast would be approximately $3 billion and growing over 20 percent annually for the next several years.

In a statement, HP said helping businesses transform to a hybrid infrastructure “that gives greater flexibility and agility, while ensuring that there is no disruption to legacy systems” was a key plank of its future strategy.

Whitman added: "Hewlett Packard Enterprise will be smaller and more focused than HP is today, and we will have a broad and deep portfolio of businesses that will help enterprises transition to the new style of business.”

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