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Business News

RENEE MONTAGNE, HOST:

NPR's business news starts with more layoffs ay HP.

(SOUNDBITE OF MUSIC)

MONTAGNE: Hewlett-Packard said yesterday it's cutting ay least 11,000 jobs as part of a restructuring effort that has already eliminated more than three times that number.

The news came as HP announced a drop in revenue in the second quarter of its fiscal year, disappointing investors as the company had appeared to be stabilizing recently. Transcript provided by NPR, Copyright NPR.