News Summary: HP expands job cuts by 2,000
MORE CUTS: Hewlett-Packard Co. is planning to cut about 2,000 more jobs than it had previously announced. HP said it will cut 29,000 jobs by October 2014, up from the 27,000 cuts it announced in May.
EARNINGS IMPACT: The company also says it expects to record charges of $3.7 billion, mainly for the job cuts. That's up from the May estimate of $3.5 billion.
THE BACKDROP: HP has been hit by the shift in technology spending from PCs and printers toward cellphones and tablets. CEO Meg Whitman is trying to turn the company around.