7 Biggest Layoff Proclamations of 2012

Bangalore: There are many success stories you will find when people discovered their genuine talent after they got fired. Steve Jobs was fired at Apple. He came back and eventually changed the world. Director Richard Donner was fired from the second series of Superman II, and he's the cause the franchise became so triumphant in the first place. There was complete new edge added by Richard which no one else could imagine about.

The stories are no doubt very much interesting and inspiring. But loosing a job is not always fun. The year 2012 has been through some major economic turmoil that compelled many big companies stop hiring as well as start a layoff. Wall Street journal listed 7 big companies who took major lay off decisions in 2012.

1. Hewlett-Packard

Tech giant Hewlett Packard plans to shed off 27,000 employees as an ingredient of their restructuring plan. "As part of the restructuring, HP expects approximately 27,000 employees to exit the company, or 8 per cent of its workforce as of October 31, 2011, by the end of fiscal year 2014," as quoted by Wall Street Journal. The decision was taken after HP accounted 31 percent fall in their net earnings and 3 percent fall in their revenue.

Having employee strength around 300,000 HP is struggling to market personal computers in the age of tablets and high tech mobile phones and gadgets. The manpower reduction would help the company to save around $3-3 .5 billion by the end of 2014 financial year which will be reinvested in the company.

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